You can create VAT classifications, and define nature of transactions in the Stat Classification Creation screen.
To create a user defined classification
1. Go to Gateway of Tally > Accounts Info. > Statutory Info. > VAT Classifications > Create.
2. Enter the Name of the new classification.
3. Enter the applicability dates with the corresponding tax rates in Applicable From and Tax rate columns, respectively.
4. Press Enter to save.
To define Nature of Transactions in the Stat Classification Creation screen
1. Click F12: Configure to enable the required options.
In the Configuration screen,
1. Set the options Enable nature of transaction? and Provide commodity details? to Yes.
2. Press Ctrl+A to accept the Configuration screen.
2. Select the required Nature of Transactions.
3. Enter the required details in respective columns.
The Stat Classification Creation screen appears as shown below:
4. Press Enter to save.
'VAT Classifications (Madhya Pradesh)' has been shared with
