Create a user defined classification with commodity details.
To create a user defined classification
1. Go to Gateway of Tally > Accounts Info. > Statutory Info. > VAT Classifications > Create.
2. Click F12: Configure. In the configuration screen,
● Set the following options to Yes:
o Enable nature of transaction
o Set type of goods
o Provide commodity details
o Provide schedule details
● Press Ctrl+A to save.
3. Enter the Name of the new classification.
4. Enter the applicability dates with the corresponding tax rates in Applicable From and Tax Rate columns, respectively.
Note: Click L: Details to view the VAT Rate Details screen, and to specify different VAT rates with separate Applicable From dates.
5. Select the required Nature of Transactions.
6. Enter the required details respective columns. The Stat Classification Creation screen appears as shown below:
7. Press Enter to save.
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