Type search words and press enter
GSTR-1 upload is now as easy as 1-2-3! Upload your returns on the GST portal right here from TallyPrime. Don't worry about opening the portal or doing any other manual activity.
https://help.tallysolutions.com/docs/te9rel51/Tax_International/Kenya_VAT/Output_VAT_Ledger.htm

Output VAT Ledger

Output VAT ledgers are required to account for VAT payable on sale of taxable Goods/Services.

Output VAT Ledger

To create an Output VAT Ledger,

Go to Gateway of Tally > Accounts Info. > Ledgers > Create

  • Enter the Name of the Output VAT ledger.

  • Select Duties & Taxes as the group name in the Under field.

  • Select VAT from the Type of Duty/Tax list in the field Type of Duty/Tax.

  • In VAT Sub Type field select the appropriate VAT Sub Type - Output VAT (to account for  tax payable on sales). Depending on the VAT Sub Type selected, Tally.ERP 9 will display the VAT/Tax Class for selection in VAT/Tax Class field. For Example, if Output VAT is selected as VAT Sub Type, application will display only the Output VAT Classifications for selection in VAT/Tax Class field.

  • In VAT/Tax Class field select the required VAT/Tax Class from the VAT/TAX Class list.

  • The Percentage of Calculation and Method of Calculation is set as per the VAT/Tax Class selected.

  • Accept the output VAT ledger.

Note: It is recommended that Output VAT Ledgers be created with appropriate VAT classifications for different rates of VAT.

Mail this article