Create a user defined classification with commodity details.
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 Stat Classification Creation screen. The Configuration screen appears.
o Set the options Enable nature of transaction? and Provide commodity details? and Provide schedule details? to Yes .
o Accept the Configuration screen.
3. Enter the Name of the new classification.
4. Enter the applicability dates with the corresponding tax rates in Applicable From , Commodity Name , Commodity Code , Schedule , 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. Press Ctrl+C and select the Commodity Name .
7. Enter the Commodity Code . The Stat Classification Creation screen appears as shown below:
8. Press Enter to save.
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