To record inclusive of tax sales transaction
1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales.
2. Select the Party's A/c Name.
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.
To create stock item with inclusive of tax configuration
1. Go to Gateway of Tally > Inventory Info. > Stock Items > Create.
2. Click F12: Configure.
o Set Allow inclusive of tax for stock items? to Yes.
o Press Ctrl+A to save.
3. Enter the name of the stock item in the field Name.
4. Select the required stock group in the field Under.
5. Select unit of measurement in the field Units.
6. Select the option Applicable in the field VAT Applicable.
7. Enable the option Set/alter VAT details?.
o Enter Tax Rate and select the option Taxable in the field Tax Type in VAT Details screen.
o Press Ctrl+A to save.
8. Set Is Inclusive of duties and taxes? to Yes.
9. Press Enter to save.
o Enter the Godown, Quantity, Rate and Amount.
o Press Ctrl+A to save, and to return to sales invoice.
The Stock Item Allocations screen is displayed as shown below:
5. Select the common VAT ledger. Based on the VAT rate, amount will be automatically displayed.
Ledger must be grouped under Duties & Taxes with the following fields:
● Type of Duty/Tax set to VAT. (CST in case of interstate sales)
● Percentage of Calculation set to 0.
The sales invoice appears as shown below:
6. Press Enter to save.
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