You can follow the steps given below to create a common VAT ledger. To create a VAT ledger with the rate specified, enter the tax rate in Percentage of Calculation field. Based on the tax rate entered, the tax amount is calculated in the invoice.
To create a common VAT ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the Name of the VAT ledger.
3. Select Duties & Taxes in the Under field.
4. Select VAT as Type of Duty/Tax.
5. Set the option Inventory values are affected? to No.
6. Press Enter to skip the Percentage of Calculation? field.
The Ledger Creation screen appears as shown below:
7. Press Ctrl+A to save.
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