Purchase of Taxable Goods

To create a Purchase Voucher for taxable goods,

Go to Gateway of Tally > Accounting Vouchers > F9: Purchase

1. Select item invoice mode

2. Enter the reference number in the Ref field

3. Select the Party’s A/c Name for e.g., K. K. Sons & Co. from the List of Ledger Accounts

4. In the Purchase Ledger field, select the required purchase ledger, for e.g., Purchases @ 10% - ST10

5. On selecting the sales ledger, the Sales Tax Class appears accordingly. In case where the VAT/Tax class is not selected in the ledger master, select the same while invoicing  

6. Select the Name of Item, for e.g., Computer from the List of Items

7. Enter the Quantity and Rate. The amount will be automatically displayed

8. Select the Tax ledger, for e.g., Tax on Purchases @ 10% from the List of Ledger Accounts

9. Enter the required bill references in the Bill-wise Details screen

10. Enter the Narration, if required

11. Press Y or Enter to accept and save.

Similarly, record a purchase entry using Purchases @ 5% - ST10 as VAT/Tax Class. The completed purchase entry displays as shown:

Accept the purchase invoice.