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Recording Sales Inclusive of Tax (Chandigarh)

In Tally.ERP 9, you can record sales transactions with ledgers where the stock item has been enabled with Inclusive of Duties and Taxes option. You can configure the stock item using F12: Configure.

To record sales transactions which are inclusive of tax

1.    Go to Gateway of Tally > Accounting Vouchers > F8: Sales.

2.    Select the Party's A/c Name.

3.    Select the Sales Ledger with taxable nature of transaction.

4.    Select the stock item enabled with the option Is inclusive of duties and taxes.

5.    Enter the  the tax inclusive rate for an unit of item in the Rate (Inclusive of Tax) field, in the Inclusive of Tax screen.

6.    Press Enter. Amount appears automatically.

Note: You can enable an additional column in the invoice to enter the stock item value, which is inclusive of tax.

7.    Select the common VAT  ledger. Based on the VAT rate, amount will be automatically displayed. The sales invoice appears as shown below:

8.    Press Enter to save.