Sales Works Contract (Maharashtra)

To record a works contract transaction

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

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

3.     Select the sales ledger with Sales - Works Contract as the Classification / Nature.

Note: For a common ledger, click F12: Configure in the invoice and set the option Allow Modification of Tax Details for VAT? to Yes. Select Sales - Works Contract in the VAT Classification Details screen displayed on selecting the common sales ledger, as shown below:

4.     Select the stock item, and enter the Quantity and Rate.

5.     Enter the percentage or amount of deduction. The Works Contract Details screen appears as shown below:

6.     Select the VAT ledger.

7.     Click A: Tax Analysis to display the Tax Analysis screen.

o      Click F1: Detailed to view in detailed mode. The Tax Analysis screen appears as shown below:

o      Press Esc to return to the sales invoice.

The sales invoice appears as shown below:

8.     Enter Narration, if required.

9.     Press Enter to save.