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Sales - Works Contract (Madhya Pradesh)

Record sales works contract details in vouchers with Sales - 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 > F8: Sales .

2. Select the party ledger in the field Party's A/c Name .

3. Select the sales ledger with Sales - Works contract as the Nature of transaction .

Note: For a common ledger, click F12: Configure in the invoice and set the option Allow modification of Tax Details for VAT? to Yes . Select Sales - Works Contract in the VAT Classification Details screen displayed on selecting the common sales ledger, as shown below:

4. Select the item, and enter the Quantity and Rate or Amount .

5. Enter the percentage or amount of deduction in the Deduction Claimed for Tax Calculation screen. The Deduction Claimed for Tax Calculation screen appears as shown below:

6. Select the VAT ledger.

7. Click A : Tax Analysis to display the Tax Analysis screen.

o Click F1 : Detailed to view in detailed mode. The Tax Analysis screen appears as shown below:

o Press Esc to return to the sales invoice.

The sales invoice appears as shown below:

8. Press Enter to save.