Sales at MRP

To create stock item with MRP

1.     Go to Gateway of Tally > Inventory Info. > Stock Items > Create.

2.     Press F12:Configure button.

o      Set the option Allow MRP/Marginal for stock items? to Yes.

o      Press Ctrl+A to save.

3.     Enter the stock item Name.

4.     Select the required group in the Under field.

5.     Select the unit of measure in the Units field.

6.     Set the option VAT Applicable to Applicable.

7.     Set the option Set/alter VAT details? to Yes.

8.     In the VAT Details screen

o      Enter the Tax Rate.

o      Enter the date from which the tax is applicable.

o      Enter the rate of Cess.

o      Set the option Calculate VAT on MRP? to Yes.

o      Press Ctrl+A to save and return to the Stock Item Creation screen.

9.     Set the option Set/alter MRP details to Yes.

●      Enter the MRP Rate.

●      Press Enter.

10.  Press Ctrl+A to save the stock item master.

To create a common VAT ledger

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

2.     Enter the Name of the VAT ledger.

3.     Select Duties & Taxes in the Under field.

4.     Select Types of Duty/Tax as VAT.

5.     Set Use for Purchase Tax? to No.

6.     Press Enter to skip the Percentage of Calculation field.

7.     Press Enter to save.