You can record sales of items with applicable tax on the MRP in Delhi, by selecting the appropriate stock item and the common VAT ledger. The stock items must be enabled with the Calculate VAT on MRP option and the ledger must be grouped under the Duties & Taxes category.
To record sales transaction with tax on MRP
1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales.
2. Select the customer name in the Party’s A/c Name field.
3. Click F12: Configure.
o Set the option Allow MRP modification in voucher to Yes, to enable altering the MRP rate while recording the voucher.
o Press Ctrl+A to accept.
4. Select the required Sales Ledger.
5. Select the stock item for which Calculate VAT on MRP is enabled and enter the Quantity, and Rate.
While creating a ledger for stock items, enable Set/alter VAT Details.
o Enter Tax Rate and select the option Taxable in Type of Tax field of VAT Details screen.
o Set the option Calculate VAT on MRP to Yes.
o Press Ctrl+A to save.
6. Select the common VAT ledger. The rate will be calculated automatically based on MRP defined for the item.
The ledger must be grouped under Duties & Taxes in which the options:
o Type of duty/tax set to VAT (CST in case of interstate sales).
o Percentage of Calculation (eg 5)? set to 0.
7. Enter Narration, if required.
The sales invoice appears as shown below:
8. Press Enter to save.
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