You can create a common sales ledger for all types of sales without defining tax details in the sales ledger master. You can define the tax rates in the voucher or in the sales ledger master, as required.
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. Press Enter to skip the field 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, commodity details, 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. Select the required Classification in VAT Details screen.
In the VAT Details screen,
1. Set the Classification to:
o Undefined if unique tax rate and commodity details have to be defined.
o 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.
2. Select the Nature of transaction.
3. Select the Company Nature of Business.
4. Select the Type of goods.
5. Press Ctrl+C to select the Commodity name. The Commodity code appears automatically.
6. Enter the tax rate.
7. Select the VAT Schedule. The VAT Details screen appears as shown below:
8. Press Enter to save, and return to Ledger Creation screen.
8. Press Ctrl+A to accept.
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