Create stock groups for classifying items based on common features. You can also apply a common tax rate for all items in a stock group.
To create a stock group
1. Go to Gateway of Tally > Inventory Info. > Stock Groups > Create.
2. Enter the Name of the stock group.
3. Select the required group in the Under field.
4. Enable the option Set/alter VAT details? to view the VAT Details screen.
5. Enter the relevant details in the VAT Details screen.
To specify the VAT rate for the stock group in the VAT Details screen
1. Set the Classification option in VAT Details screen to:
o Undefined if unique tax rate and commodity details have to be defined.
o Any of the user-defined classification.
2. Enter the Tax rate.
3. Select the Tax type. The VAT Details screen appears as shown below:
4. Press Ctrl+A to accept, and return to the Stock Group Creation screen.
The Stock Group Creation screen appears as shown below:
6. Press Enter to save.
'Stock Group (Madhya Pradesh)' has been shared with