You can record a sales invoice for an item where the item rate is inclusive of tax.
To record inclusive of tax sales transaction
1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales .
2. Select the party ledger in Party's A/c Name field.
3. Select the sales ledger with taxable nature of transaction.
4. Select the stock item for which the option Is inclusive of duties and taxes? is enabled.
To create stock item with inclusive of tax configuration
1. Go to Gateway of Tally > Inventory Info. > Stock Items > Create .
2. Click F12: Configure .
o Set Allow inclusive of tax for stock items? to Yes .
o Press Ctrl+A to save.
3. Enter the name of the stock item in the Name field.
4. Select the required stock group in the Under field.
5. Select unit of measurement in the Units field.
6. Select the option Applicable in the VAT Applicable field.
7. Enable the option Set/alter VAT details? .
o Enter Tax rate and select the option Taxable in the Tax type field in VAT Details screen.
o Press Ctrl+A to save.
8. Set Is Inclusive of duties and taxes? to Yes .
9. Press Enter to save.
5. Enter the Quantity . The Inclusive of Tax screen appears as shown below:
o Enter the Rate (Inclusive of Tax) .
o Press Enter to save and to return to sales invoice.
To enter the invoice value (inclusive of tax) by enabling an additional column in the invoice
1. Click F12: Configure and set the option Allow entry of rate inclusive of tax for stock item? to Yes .
2. Press Ctrl+A to accept. The column Rate (Incl. of Tax) appears in the invoice.
3. Enter the stock item value inclusive of tax in this column.
6. Select the common VAT ledger. Based on the VAT rate, amount is automatically displayed.
Ledger must be grouped under Duties & Taxes with the following fields:
o Type of duty/tax set to VAT (CST in case of interstate sales).
o Percentage of Calculation (eg 5)? set to 0 .
7. Set the option Provide VAT Details? to Yes to view the Statutory Details screen.
In the Statutory Details screen,
o Select the Point of Sale .
o Press Enter to save and return to sales invoice.
The sales invoice appears as shown below:
8. Press Enter to save.
'Sales Inclusive of Tax (Rajasthan)' has been shared with
