You can define the VAT classification and enter the details of commodity as per your business requirement.
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.
The Stat Classification Creation screen appears as shown below:
4. Press Enter to save.
To enter the commodity details in the Stat Classification Creation
1. Click F12: Configure in the Stat Classification Creation screen. The Configuration screen appears.
● Set the following options to Yes:
o Enable nature of transaction?
o Set type of goods?
o Provide commodity details?
o Provide schedule details?
● Press Ctrl+A to save the changes.
2. Select the required Nature of Transaction.
3. Select the Major Commodity, Commodity Name using Ctrl+C: Helper button.
The Stat Classification Creation screen appears as shown below:
4. Press Enter to save.
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