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Purchase with Transfer of Right to Use (VAT)

You can record purchases by selecting the nature of transaction Purchase Transfer of Right to Use .

This nature of transaction is provided for Odisha and West Bengal.

1. Go to Gateway of Tally > Accounting Vouchers > F9: Purchase .

2. Enter the Supplier invoice no. and Date .

3. Select the party ledger in the field Party's A/c Name .

4. Select the purchase ledger grouped under Purchase Accounts with the Nature of transaction set to Purchase Transfer of Right to Use , and predefined with the applicable tax rate.

5. Select the stock item. Enter the Quantity and Rate . In the VAT Details screen:

Enter the details as shown below:

Note: The above screen appears only when the State is selected as West Bengal in the Company VAT Details screen.

Press Enter to accept and return to the purchase invoice.

6. The purchase invoice appears as shown below:

7. Press Enter to save.

The value of this transaction gets captured in the relevant fields of state-specific VAT/CST forms and annexures.