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Creating VAT Classifications (Punjab)

You can create user defined VAT classifications in Tally.ERP 9.

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 options,

o Enable nature of transaction? to Yes

o Set type of goods? to Yes

o Provide Trade Name? to Yes

o Provide commodity details? to Yes

Press Ctrl+A to accept.

3. Enter the Name of the new classification.

4. Enter the applicability dates with the corresponding tax rates in Applicable From , Trade Name , 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 Transaction .

6. Select the Type of goods .

7. Enter the date in Applicable From field.

8. Press Ctrl+C to select the Trade name .

9. Select the Commodity name .

10. Enter the Commodity Code .

11. Select the tax Schedule and enter the Tax rate . The Stat Classification Creation screen appears as shown below:

12. Press Enter to save.