Record purchase works contract details in vouchers with Purchase - Works Contract as the Nature of Transaction . Deduction can be claimed for tax calculation.
To record a works contract transaction
1. Go to Gateway of Tally > Accounting Vouchers > F9: Purchase .
2. Click F12: Configure .
In the Voucher Configuration screen,
o Set the option Allow modification of Tax Details for VAT? to Yes .
o Press Ctrl+A to save.
3. Enter Supplier Invoice No. and Date .
4. Select the Party's A/c Name .
5. Select Purchase Ledger from the List of Ledger Accounts .
6. Select the Purchase - Works Contract as Classification/Nature in VAT Classification Details screen.
7. Select the stock item, enter the Quantity and Rate .
8. Press Enter to open the Works Contract Details screen.
o Enter Description of Contract , Deduction for Labour Charges , and Other Allowable Deductions .
The Works Contract Details screen appears as shown below:
o Press Enter to save.
9. Select the VAT ledger.
10. Press Esc to return to purchase invoice. The purchase invoice appears as shown below:
11. Press Enter to save.
'Recording Purchase - Works Contract (Assam)' has been shared with
