Tax Rate Setup for VAT and Excise

The Tax Rate Setup tool is used after migration of data from releases prior to 5.0 to Tally.ERP 9 release 5.x. This tool helps to configure tax rates and excise tariffs of all stock groups and items in release 5.x. If there are multiple stock items, this tool makes it very easy to configure rates and tariffs for all from one screen.

To view the Excise Tariff Setup tool

●      Go to Gateway of Tally > Inventory Info. > Tax Rate Setup > Excise.

Or

●      Go to Gateway of Tally > Display > Statutory Reports > Excise Reports > Tax Rate Setup.

The Excise Tariff Setup screen appears as shown below:

●      Click F1: Detailed to view the stock items under each group. The Excise Tariff Setup screen in detailed mode appears as shown below:

Excise tariff details specified at the company, stock group or stock item levels after migration are displayed.

●      Applicable From: Displays the dates entered, from which the tariff rates are applicable.

●      Tariff Rate: Displays the tariff rates specified.

●      HSN Code: Displays the HSN code of the stock item.

●      Reporting UoM: Displays the UoM of the stock item.

●      Valuation Type: Displays the valuation type of the stock item.

To view the VAT Rate Setup tool

●      Go to Gateway of Tally > Inventory Info. > Tax Rate Setup > VAT or,

●      Go to Gateway of Tally > Display > Statutory Reports > VAT > Tax Rate Setup.

The VAT Rate Setup screen appears as shown below:

●      Click F1: Detailed to view the stock items under each group. The VAT Rate Setup screen in detailed mode appears as shown below:

VAT rate details specified at the company, stock group or stock item levels after migration are displayed.

●     Applicable From: Displays the dates entered, from which the VAT rates are applicable.

●     Tax Rate: Displays the tax rates specified.

●     Addl.Tax Rate: Displays the additional tax rates specified.

Note: Additional tax, cess or surcharge appears for different states as applicable.

●     Commodity Name: Displays the commodity name of items used in transactions.

●     Commodity Code: Displays the commodity code of items used in transactions.