You can enable VAT from Statutory & Taxation under F11: Features and enter relevant details in the VAT Details screen.
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. Enter the following details in the Company VAT Details screen:
o Select the state as Gujarat 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 VAT registration date.
o Enter the Inter-state sales tax number.
o Enter the CST registration date.
o Set the option Consolidate CST and Addl. tax in interstate sales to:
o Yes, calculate the tax by consolidating CST and additional tax value on selecting CST ledger in the invoice.
o No, to select CST and additional tax ledgers separately in the invoice.
Note: The CST and additional tax values can be consolidated on selecting the following nature of transactions:
♦ Interstate Sales - Taxable
♦ Interstate Sales - Works Contract
♦ Interstate Sales - E1
o 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/rate details
1. Press F12: Configure to open the Configuration screen.
o Enable Set CST rate? to Yes, to enter CST details.
o Enable Provide nature of goods? to Yes.
o Enable Provide commodity details? to Yes, to enter commodity details.
The Tax/rate Details screen appears as shown below:
2. Enter the required CST Rate, VAT Rate, and Other Info, as required.
3. Press Ctrl + A to save.
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.
5. Press Ctrl+A to save the Company VAT Details screen.
Note: You can enter additional details by enabling the option Show additional details?.
To provide additional details in the VAT Details screen
1. Click F12: Configure.
2. Enable Show VAT applicable from to enter the date from when VAT registration is applicable.
3. Enable Show additional details to provide additional information and exemption or deferment details. The detailed VAT Details screen appears as shown below:
4. Enter the following details under Additional Information:
o Enter the name and Status/Designation of authorised person.
o Enter the Place, District and Fax Number of the business.
5. Enter the required details in Exemption/Deferment Details section.
6. Press Enter to save.
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