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.
1. Click F12: Configure to view the Configuration screen.
In the configuration screen,
1. Enable the option Show date from which VAT is applicable? to enter the date from when VAT registration is applicable.
2. Enable the option Show additional details? to provide additional information.
3. Click F12: Configure in the Company VAT Details screen.
o Enable the option Show additional details? to provide additional information details.
4. Under the Additional Information section:
o Enter the name of the Circle.
o Enter the name of the Division.
o Enter the name of the Authorised Person.
o Enter the Status/Designation of the authorised person.
o Enter the Place of the business.
The Company VAT Details screen with all the required information appears as shown below:
o Press Ctrl+A to accept.
2. Select the state as Andhra Pradesh 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. Enter the Inter-state Sales Tax Number (Prior to 2-June-2014), if required.
Note: In the field Inter-state Sales Tax Number (Prior to 2-June-2014), enter the inter-state sales tax number newly assigned to Andhra Pradesh.
6. Enable Set/alter tax/rate details? to open the Tax/Rate Details screen. A single VAT rate which can be applied for all stock items in a company, can be defined from this screen.
To provide additional tax/rate details
1. Enable Set/alter tax/rate details?.
2. Press F12: Configure to view the Configuration screen.
3. Set the following options to Yes, if required.
o Set CST rate?
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 schedule from the List of Schedules/Groups.
5. Enter Tax Rate. Press Enter without specifying the rate to select Exempt or Tax Free 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.
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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