Creating VAT Classifications (Karnataka)

You can create VAT classifications, and define nature of transactions in the Stat Classification Creation screen.

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,

o Set the options Enable nature of transaction? and Provide commodity details? to Yes .

o Press Ctrl+A to accept the configuration.

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.