Stock Group

You can create stock groups for classifying items based on common features. You can also apply a common tax rate for all items in a stock group.

To create a stock group

1. Go to Gateway of Tally > Inventory Info. > Stock Groups > Create .

2. Enter the Name of the stock group.

3. Select the required group in the Under field .

4. Enable the option Set/alter VAT details? to view the VAT Details screen. In the VAT Details screen,

1. Set the option Classification to:

o Undefined if unique tax rate and commodity details have to be defined.

Or

o Any of the user-defined VAT Classification .

Note: Once applied, the other options disappear and cursor returns to the Stock Group Creation screen.

2. Enter the Tax rate .

3. Select the Tax type . The VAT Details screen appears as shown below:

Note: For Uttarakhand VAT, tax rate on quantity is not supported.

4. Press Ctrl+A to accept, and return to the Stock Group Creation screen.

The Stock Group Creation screen appears as shown below:

5. Press Enter to save.

Click here for options provided in the stock group master as per state specific requirements of VAT/CST returns and annexures.

Stock Group Creation for Uttarakhand VAT

In the Stock Group Creation screen of the company enabled for Uttarakhand VAT, an additional option Set/alter sales tax cess? appears as shown below, if cess feature is enabled in the Company Operations Alteration screen:

Set the rate of cess in the Sales Tax Cess screen and press Enter to save.