https://help.tallysolutions.com/docs/te9rel60/Tax_India/VAT/gujarat/GJ_Pur_Sale_Ldgr.htm

Creating Purchase and Sales Ledgers (Gujarat)

You can create a common purchase ledger for all types of purchases without defining tax details in the purchase ledger master. The same can be done for common sales ledger. You can also create separate ledgers and define different tax rates in the purchase and sales ledger masters.

On this page

Purchase Ledger

Sales Ledger

Purchase Ledger

To create a common purchase ledger

1.    Go to Gateway of Tally > Accounts Info. > Ledgers > Create.

2.    Enter the Name of the purchase ledger.

3.    Select Purchase Accounts, in the Under field.

4.    Set the option Inventory values are affected to Yes.

5.    Set Is VAT/CST Applicable to Applicable.

6.    Disable Set/Alter VAT Details.

7.    Press Enter to save.

To create a ledger defined with Nature of Transaction and tax rate

1.    Go to Gateway of Tally > Accounts Info. > Ledgers > Create.

2.    Enter the Name of the purchase ledger.

3.    Select Purchase Accounts, in the Under field.

4.    Set the option Inventory values are affected to Yes.

5.    Set Is VAT/CST Applicable to Applicable.

6.    Enable the option Set/alter VAT Details.

7.    Set the Classification option in VAT Details screen to:

      Undefined if unique tax rate and commodity details have to be defined.

     Any of the user-defined Classification. Once it is applied, rest of the options will disappear and cursor returns to Ledger Creation screen. Click here to view the detailed procedure of creating VAT Classifications.

8.    Select the Nature of transaction.

9.    Select the Commodity Name.

10.  Enter the Commodity Code, Tax Rate and Additional Tax.

11.  Press Enter to accept.

12.  Press Ctrl+A to save the ledger.

Sales Ledger

To create a common sales ledger

1.    Go to Gateway of Tally > Accounts Info. > Ledgers > Create.

2.    Enter the Name of the sales ledger.

3.    Select Sales Accounts in the Under field.

4.    Set Inventory values are affected to Yes.

5.    Set Is VAT/CST Applicable to Applicable.

6.    Disable Set/Alter VAT Details. The Ledger Creation screen appears as shown below:

7.    Press Enter to save.

To create a ledger defined with Nature of Transaction and tax rate

1.    Go to Gateway of Tally > Accounts Info. > Ledgers > Create.

2.    Enter the Name of the sales ledger.

3.    Select Sales Accounts in the Under field.

4.    Set Inventory values are affected to Yes.

5.    Set Is VAT/CST Applicable to Applicable.

6.    Enable the option Set/alter VAT Details.

7.    Set the Classification option in VAT Details screen to:

      Undefined if unique tax rate and commodity details have to be defined.

     Any of the user-defined Classification. Once it is applied, rest of the options will disappear and cursor returns to Ledger Creation screen. Click here to view the detailed procedure of creating VAT Classifications.

8.    Select the Nature of Transaction.

9.    Enter the Tax Rate, Additional Tax, and Tax Type. The VAT Details screen appears as shown below:

10.  Press Enter to accept.

11.  Press Ctrl+A to save the ledger.

Selection of Entity Type in Zero Rated Sales Ledger

To select entity type for zero rated sales ledger

1.    Navigate to VAT Details screen of sales ledger (grouped under Sales Accounts).

2.    Select Interstate Sales - Zero Rated as the Nature of Transaction. The option Party Entity/Org. Type is displayed.

3.    Select the Party Entity/Org. Type from the list. The VAT Details screen appears as shown below:

4.    Enter the commodity and tax details.

5.    Press Ctrl+A to save.