In Tally.ERP 9, you can record sales transactions with ledgers where the stock item has been enabled with Inclusive of Duties and Taxes option. You can configure the stock item using F12: Configure.
To record inclusive of tax sales transaction
1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales.
2. Select the party ledger in Party's A/c Name field.
3. Select the sales ledger with taxable nature of transaction.
While creating the ledger for stock items
o Click F12: Configure.
o Set Allow inclusive of tax for stock items? to Yes.
o Press Ctrl+A to save.
5. Enter the Quantity. The Inclusive of Tax screen appears as shown below:
o Enter the Rate (Inclusive of Tax).
o Press Enter to save and to return to sales invoice.
6. Select the common VAT ledger. Based on the VAT rate, amount is automatically displayed.
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.
The sales invoice appears as shown below:
7. Press Enter to save.
'Recording Sales Inclusive of Tax (Delhi)' has been shared with