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Creating VAT Classifications (Puducherry)

You can define the VAT classification and enter the details of commodity as per your business requirement.

To create a user defined classification

1.    Go to Gateway of Tally > Accounts Info. > Statutory Info. > VAT Classifications > Create.

2.    Click F12: Configure.

o     Set the options Enable nature of transaction? and Provide commodity details? to Yes.

o     Press Ctrl+A to save and return to the Stat Classification Creation screen.

3.    Enter the Name of the new classification.

4.    Enter the applicability date with the corresponding tax rates in Applicable From and Tax rate columns.

Note: Click L: Details to view the VAT Rate Details screen, and to specify different VAT rates with separate Applicable From dates.

5.    Select the required option in Nature of Transactions field.

6.    Enter the Commodity Name and Commodity Code.

The Stat Classification screen appears as shown below:

7.    Press Enter to save.