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Enabling VAT (Kerala)

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.

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.

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.