To create stock item with service tax details, enable statutory option for stock items in the company's F11: Features > Statutory & Taxation.
To create stock item
1. Go to Gateway of Tally > Inventory Info. > Stock Item > Create.
2. Enter Name for the stock item.
3. Select group in the field Under.
4. Select Units for the stock item.
5. Enable Set/alter service tax details? to view the Service Tax Details screen.
o Define the Service category for the ledger. On selecting a service category, the service tax details defined in that service category will be inherited.
o Enter the Name.
o Enter rate of Service tax.
o Enter rate of Education cess, if required
o Enter rate of Secondary education cess, if required.
o Enter rate of Swachh Bharat cess.
o Enter rate of Krishi Kalyan cess.
The Service Category Creation (Secondary) screen appears as shown below:
6. Press Enter to save.
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