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https://help.tallysolutions.com/docs/te9rel51/Tax_International/Kenya_VAT/taxable_sales.htm

Taxable Sales

Sales at 16%

To record Taxable Sales at 16%,

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

  1. Enter the Reference Number and Date.

  2. Select the Party’s A/c Name from the List of Ledger Accounts.

  3. In Sales Ledger field, select the Sales ledger with the VAT/Tax class - Sales @ 16%.

  4. In VAT/Tax Class field the tax class selected in Sales Ledger will be displayed.

  5. Select the Name of Item taxable @ 16%. Enter the Quantity and Rate. The amount is automatically displayed in the Amount field.

  6. Select the Output VAT ledger with the VAT/Tax class - Output VAT @ 16% from the List of Ledger Accounts.

  7. Select the Type of Device, the Device number will be captured automatically. Maximum of 20 characters is allowed for Device No. field.

  8. In Brief Desc for VAT field, enter the brief description of the goods being sold.

  9. Set the field Show Statutory Details to Yes.

The Statutory Details screen displays as shown:

  1. Accept the Statutory Details screen and the Sales Invoice.

Note: The assessable value of sales made using taxable VAT/Tax classification - Sales @ 16% is captured in box 1 - TAXABLE Sales (GENERAL RATE)(in Value EXCL. VAT) of Form VAT 3. The Output tax payable on taxable sales is captured in box 1 -VAT Charged field.

The Print Preview of Sales Invoice appears as shown:

Sales at 12%

Note: The assessable value of sales made using taxable VAT/Tax classification - Sales @ 12% is captured in box 2 - TAXABLE Sales (OTHER RATES)(in Value EXCL. VAT) of Form VAT 3. The Output tax payable on taxable sales is captured in box 2 -VAT Charged field.

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