You can enable VAT for Kerala, and configure VAT details using the steps listed below. Statutory masters and reports specific to Kerala are activated on enabling Value Added Tax (VAT).
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. Set the option Set/alter VAT details? to Yes. The Company VAT Details appears as shown below:
4. Click F12: Configure to view the Configuration screen.
o Enable the option Show date from which VAT is applicable? to enter the date from when VAT is applicable.
o Enable the option Show additional details? to provide additional information.
To provide additional details in the VAT Details screen
1. Click F12: Configure.
o Enable the option Show VAT applicable from? to enter the date from when VAT registration is applicable.
o Enable the option Show additional details? to provide additional information details. The detailed VAT Details screen appears as shown below:
2. Under the Additional Information section:
o Enter the Assessing authority address.
o Enter the branch details.
o Enter the SSI/MSI/LSI registration number.
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 VAT Details screen with all the required information appears as shown below:
3. Press Enter to save.
5. Enter the following details in the Company VAT Details screen:
o Select the state as Kerala from the List of States (if the state is not selected in the Company Creation screen).
o Enter the 11 digit TIN allotted by the VAT department.
o Enter the Inter-state Sales Tax Number, if required.
o Enable Set/alter tax/rate details? to view the Tax/Rate Details screen. A single VAT rate for all stock items in a company can be defined in 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 Set type of goods?
o Provide nature of goods?
o Provide commodity details?
Note: The Helper button is displayed if Provide commodity details? is enabled.
o Provide schedule details?
4. Enter the required CST Rate, VAT Rate, and Other Info.
5. Press Ctrl+C to use the helper and select the Commodity name. Using the helper automatically updates the Commodity Code.
To use the helper to select Commodity name
Press Ctrl+C to enable the helper.
Select the Commodity name.
Using the helper automatically updates the Commodity Code.
6. Press L: Details to specify different VAT rates with separate Applicable From dates. The Tax/rate Details screen appears as shown below:
To specify different VAT rates with separate Applicable From dates
1. Press L: Details.
2. Enter Applicable From date.
3. Enter Commodity Name.
Note: Press Ctrl+C to use the Helper. Commodity names can be selected from the List of Commodities and the corresponding Commodity Code is automatically displayed.
4. Enter Commodity Code, if Helper is not used.
5. Select Type of Goods.
6. Select Nature of Goods.
7. Select schedule from the List of Schedules/Groups.
8. Enter Schedule Serial No.
9. Enter Tax Rate. Press enter without specifying the rate to select Exempt or TaxFree in the Taxability column.
10. Enter Cess. The VAT Rate Details screen appears as shown below:
7. Press Ctrl+A to save and return to the VAT Details screen.
o Enable the option Define VAT commodity and tax details as masters? if separate VAT classifications have to be created for each tax rate. These classifications can be applied to ledgers, stock items or stock groups.
6. Press Ctrl+A to save the Company VAT Details screen.
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