VAT for a state can be specified in Tally.ERP 9 by using the options under F11: Features. In the VAT Details screen, you can provide all the required details, such as TIN, tax number, tax rates and so on, applicable for a particular state.
To enable VAT
1. Go to Gateway of Tally > F11: Features > Statutory & Taxation. The Company Operations Alteration screen appears as shown below:
2. Set the option Enable Value Added Tax (VAT)? to Yes.
3. Enable the option Set/alter VAT details? to open Company VAT Details.
4. Configure the VAT details, as explained in the To configure VAT details section below.
5. Enter the PAN/Income tax. no.
6. Enter the Corporate Identity No. (CIN).
7. Press Enter to save.
To configure VAT details
1. Click F12: Configure to view the Configuration screen. In the configuration screen,
o Enable the option Show date from which VAT is applicable? to enter the date from when VAT is applicable.
o Enable the option Show additional details? to provide additional information.
To provide additional details in the VAT Details screen
1. Provide the following details under the Additional Information section:
o Ward No.
o Authorised Person
o Status/Designation
o Place
The Company VAT Details screen with all the required information appears as shown below:
2. Press Enter to save.
o Press Ctrl+A to accept and return to the VAT Details screen.
2. Select the state as Delhi from the List of States (if the state is not selected in the Company Creation screen).
3. Enter the 11 digit TIN allotted by the VAT department.
4. Enter the Inter-state Sales Tax Number, if required.
5. Enable Set/alter tax/rate details? to view the Tax/Rate Details screen. A single VAT rate for all stock items in a company can be defined in this screen.
To provide additional tax/rate details
1. Enable Set/alter tax/rate details?.
2. Click F12: Configure to view the Configuration screen.
3. Set the following options to Yes, if required.
o Set CST rate?
o Set Type of goods?
o Provide Nature of goods?
o Provide commodity details?
o Provide schedule details?
4. Enter the required CST Rate, VAT Rate, and Other Info.
5. Click L: Details to view the VAT Rate Details screen, and to specify different VAT rates with separate Applicable From dates.
In the VAT Rate Details screen,
1. Enter Applicable From date.
2. Enter Commodity Name.
3. Enter Commodity Code.
4. Select Type of Goods.
5. Select Nature of Goods.
6. Select schedule from the List of Schedules/Groups.
7. Enter Tax Rate. Press Enter without specifying the rate to select Exempt or TaxFree in the Taxability column.
The VAT Rate Details screen appears as shown below:
The Tax/Rate Details screen appears as shown below:
6. Press Ctrl+A to accept and return to the Company VAT Details screen.
6. Set the option Enable VAT calculation on stock item rate? to allow tax calculation based on rate of the item and not value.
7. Enable the option Define VAT commodity and tax details as masters? if separate VAT classifications have to be created for each tax rate. You can apply these classifications to ledgers, stock items or stock groups.
8. Press Ctrl+A to accept.
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