To create a user defined classification
1. Go to Gateway of Tally > Accounts Info. > Statutory Info. > VAT Classifications > Create.
2. Enter the Name of the new classification.
3. Enter the applicability dates with the corresponding tax rates in Applicable From and Tax rate columns, respectively.
4. Press Enter to save.
To define Nature of Transaction in the Stat Classification Creation screen
1. Click F12: Configure to enable the required options.
In the Configuration screen,
1. Set the following options to Yes:
o Enable nature of transaction?
o Set type of goods?
o Provide commodity details?
o Provide schedule details?
2. Press Ctrl+A to save the configuration.
2. Select the required Nature of Transaction.
3. Enter the required details in the respective columns. The Stat Classification Creation screen appears as shown below:
4. Press Enter to save.
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