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Sales at MRP (Karnataka)

You can record a sale transaction with tax on MRP using the procedure in this topic.

To record sales transaction with tax on MRP

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

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

3.    Select the required Sales Ledger.

4.    Select the stock item for which Calculate VAT on MRP is enabled and enter the Quantity, and Rate.

5.    Select the common VAT ledger. The rate will be calculated automatically based on MRP defined for the item. The ledger must be grouped under Duties & Taxes in which the options:

     Type of duty/tax set to VAT (CST in case of interstate sales).

     Percentage of Calculation (eg 5)? set to 0.

6.    Set the option Provide VAT Details? to Yes/No, as required.

The sales invoice appears as shown below:

7.    Press Enter to save.