https://help.tallysolutions.com/docs/te9rel64/Tax_International/GCC_VAT/tax_rate_setup_for_gcc_vat.htm

Tax Rate Setup for GCC VAT

Related topics

GCC VAT Sales

GCC VAT Purchases

The Tax Rate Setup tool helps to configure the tax rates of all stock groups and items from one screen. The tool also maintains the history of tax rates configured for the company.

The Tax Rate Setup tool helps to configure the tax rates for stock items or stock groups, change the parent group of an item, force set the VAT rate for a group and erase tax details from sub-groups and items under a particular group, and erase VAT rate details for a group or item. However, after setting the tax rates at the group-level, item-level changes are allowed and will be considered for the particular item.

Set VAT rates

1. Go to Gateway of Tally > Display > Statutory Reports > VAT > Tax Rate Setup .

2. Click F1 : Detailed . The VAT Rate Setup screen appears as shown below:

3. Select stock groups or stock items.

4. Click S : Set Rate to view the VAT Details screen.

5. Enter the VAT rate . A common VAT rate is set for the selected groups or items.

6. Press Enter to save. A sample VAT Rate Setup screen with all rate details set is shown below.

Change the stock group of a stock item

1. Press Ctrl+G in the VAT Rate Setup screen. The Alter Stock Group for Selected Item(s) screen appears as shown below:

2. Select a stock group to move the stock item.

3. Press Enter .

In a similar manner you can regroup the items as required.

Note: Select a stock group in the VAT Rate Setup screen. Press Alt+C to create a new sub-group under any of the existing groups. Stock items can be moved to the new sub-group as required. This makes it easy to group stock items with the same VAT rates. Any rate changes can be applied to the whole sub-group without having to change them manually for each stock item.

Enforce VAT rate for a group

1. Click F : Enforce Rate in the VAT Rate Setup screen.

2. Enter the Tax rate . A warning message appears as shown below:

3. Click Yes to enforce the rate change.

A common VAT rate is set for the selected group, and all the items in the group.

Remove rate details for a group or item

1. Press Ctrl+C . A message appears as shown below:

2. Click Yes to clear the rate for the item. Multiple items can be selected using Space Bar to clear the tax details.

View groups/items without tax rate

1. Click F12: Configure .

2. Select the option Without configured/inferred rate as Show items based on availability of tax details .

The VAT Rate Setup screen will show only those groups or items with inferred rates.