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. Select the required Sales Ledger.
4. 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 save.
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.
o Select the option Taxable in Tax type field.
o Set the option Calculate VAT on MRP? to Yes.
o Press Ctrl+A to save VAT Details.
8. Enable Set/alter MRP details? to Yes.
o Enter the MRP value in the MRP Rate field of MRP Details screen.
o Press Enter.
9. Press Enter to save.
5. 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 with the following settings:
o Type of duty/tax set to VAT (CST in case of interstate sales).
o Percentage of Calculation (eg 5)? set to 0.
6. Set the option Provide VAT Details? to Yes to view the Statutory Details screen.
In the Statutory Details screen,
o Select the Point of Sale.
o Press Enter to save and return to sales invoice.
7. Click A: Tax Analysis to display the Tax Analysis screen.
o Click F1: Detailed to view the stock items. The Tax Analysis screen appears as shown below:
o Press Esc to return to sales invoice.
The sales invoice appears as shown below:
8. Press Enter to save.
'Sales at MRP (Rajasthan)' has been shared with
