In Tally.ERP 9, you can record a sales voucher to account for a sales transaction with tax on MRP.
To record sales transaction with tax on MRP
1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales.
2. Select the customer name in the Party’s A/c Name field.
3. Click F12: Configure.
● Set the option Allow MRP modification in voucher to Yes, to enable altering the MRP rate while recording the voucher.
● Press Ctrl+A to accept.
4. Select the required Sales Ledger.
5. Select the stock item for which Calculate VAT on MRP? is enabled and enter the Quantity, and Rate.
To create stock item with MRP
1. Go to Gateway of Tally > Inventory Info. > Stock Items > Create.
2. Click F12: Configure.
o Set the option Allow MRP/Marginal for stock items? to Yes.
o Press Ctrl+A to accept.
3. Enter the stock item name in Name field.
4. Select the required group in Under field.
5. Select the unit of measure in the Units field.
6. Select the option Applicable in the VAT Applicable field.
7. Enable Set/alter VAT details?.
o Enter the Tax rate. Tax type is set as Taxable if tax rate is above 0.
o Set the option Calculate VAT on MRP? to Yes.
o Press Ctrl+A to accept the VAT Details screen.
8. Enable Set/alter MRP details? to Yes.
o Set the option Allow MRP modification in voucher? to Yes, to enable altering of MRP rate while recording the voucher.
o Enter the MRP value in the MRP Rate field of MRP Details screen.
o Press Enter to save.
9. Press Enter to save.
6. Select the common VAT ledger. The rate will be calculated automatically based on MRP defined for the item.
The ledger must be grouped under Duties & Taxes in which the options:
● Type of duty/tax set to VAT (CST in case of interstate sales).
● Percentage of Calculation (eg 5)? set to 0.
7. Set the option Provide VAT Details? to Yes to view the Statutory Details screen.
In the Statutory Details screen, set the option Provide VAT Details? to Yes to view the Statutory Details screen.
● Set the option Type of invoice to Tax Invoice.
● Enter the other details.
● Press Ctrl+A to accept.
8. Enter Narration, if required.
The sales invoice appears as shown below:
9. Press Enter to save.
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