VAT for a state can be specified in Tally.ERP 9 by using the options under F11: Features. In the VAT Details screen, you can provide all the required details, such as TIN, tax number, tax rates and so on, applicable for a particular state.
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. Enable the option Set/alter VAT details?. The Company VAT Details appears as shown below:
4. Select the state as Chandigarh from the List of States (if the state is not selected in the Company Creation screen).
5. Enter the 11 digit TIN allotted by the VAT department.
6. Enter the Inter-state Sales Tax Number, as required.
7. Enable Set/alter tax/rate details? to open the Tax/rate Details screen. A single VAT rate which can be applied for all stock items in a company, can be defined from this screen.
To provide tax details
1. Press F12: Configure in the Tax/Rate Details screen.
o Enable the option Set CST rate? to enter CST details.
o Enable the option Set type of goods? to identify goods as regular or Declared.
o Set the option Provide commodity details? to Yes.
o Set the option Provide schedule details? to Yes to select the relevant schedules. The Configuration screen appears as shown below:
2. Press Ctrl+A to save, and return to the Company VAT Details screen.
8. 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.
9. Enter additional details by enabling the option Show additional details?
To provide additional details in the Company VAT Details screen
1. Click F12: Configure.
2. Enable Show date from which VAT is applicable? to enter the date from when VAT registration is applicable.
3. Enable Show additional details? to provide additional information.
4. Enter the Additional Information, as required. The detailed Company VAT Details screen appears as shown below:
5. Press Enter to save.
10. Press Ctrl+A to save the Company Operations Alteration screen.
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