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A new GSTR-2B API is applicable from 14th Nov 2024, which affects auto-reconciliation of GSTR-2B for Oct-24. Stay tuned for our upcoming release, TallyPrime 5.1, which supports this and makes reconciliation even smoother.
https://help.tallysolutions.com/docs/te9rel63/Tax_International/GCC_VAT/tax_ledgers_for_gcc_vat.htm

GCC VAT Ledgers

Related topics

GCC VAT Sales

GCC VAT Purchases

You can easily account for GCC VAT by creating tax ledgers and using them in sales and purchase transactions. When VAT ledger is selected in a transaction, the tax value appears automatically if tax rates are configured at item or ledger master.

At the end of the tax period, the closing balance of the VAT ledger used in outward supply transactions will give you the tax liability for the period. Similarly, the closing balance of the VAT ledger used in the inward supply transactions will give the input credit available for the period.

Create GCC VAT ledger

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

2. In Under , select Duties & Taxes .

3. Select VAT as the Type of duty/tax .

4. Press Enter to save.

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