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Sales Inclusive of Tax (Kenya)

To record inclusive of tax sales transaction, you have to enable the option Is inclusive of duties and taxes?

Note : From 01-04-2020 the general VAT rate has been changed from 16% to 14%.

1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales .

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

3. Select the sales ledger with taxable nature of transaction.

4. Select the stock item for which the option Is inclusive of duties and taxes? is enabled.

5. Enter the Quantity . The Inclusive of Tax screen is displayed.

6. Enter the Rate (Inclusive of Tax) .

7. Select the common VAT ledger. Based on the VAT rate, amount is automatically displayed. The sales invoice appears as shown below:

8. Press Ctrl+A to save.