Type search words and press enter
"Use Edit Log for transactions/masters, and digital signature for invoices/reports with Release 2.1. Download NOW!"

Sales at MRP (Goa)

You can create sales transaction with tax on MRP.

To record sales transaction with tax on MRP

1.    Go to Gateway of Tally > Accounting Vouchers > F8: Sales > Tax Invoice.

2.    Select the customer name in the Party’s A/c Name field.

3.    Select the required sales account.

4.    Select the stock item for which Calculate VAT on MRP is enabled. The MRP/Marginal field displays the MRP value defined in the stock item.

5.    Enter Quantity and Rate for the item. Amount appears automatically.

6.    Select the common VAT ledger. VAT is automatically calculated on the MRP.

7.    Click A: Tax Analysis to display the Tax Analysis screen.

8.    Click F1: Detailed to view the names of stock items. The Tax Analysis screen appears as shown below:

Note: In the VAT Details screen of stock item, the option MRP Incl. of VAT is set to Yes. Hence, VAT is included in MRP.

9.    Press Esc to return to sales invoice. The sales invoice appears as shown below:

10.  Press Enter to save.

See Also

Creating a tax invoice voucher type