To record a purchase transaction from URDs
1. Go to Gateway of Tally > Accounting Vouchers > F9: Purchases.
2. Click F12: Configure button.
3. Set the option Allow modification of Tax Details for VAT? to Yes.
4. Press Ctrl+A to save and return to invoice.
5. Enter the Supplier Invoice No. and Date if any.
6. Select the supplier ledger in Party’s A/c Name field.
7. Select a common purchase ledger in which the option Is VAT/CST Applicable? is set to Applicable, and Set/Alter VAT Details? is disabled.
8. Select Purchase From Unregistered Dealer as nature of transaction in the VAT Classifications Details screen and press Enter.
9. Select the required stock items whose VAT rates are specified either at the stock group or stock item level. Enter Quantity and Rate for each stock item.
The purchase invoice appears as shown below:
10. Press Enter to accept the purchase transaction.
To create tax liability on purchase from unregistered dealers
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.
2. Click J: Stat Adjustment button.
3. Select the option VAT in the Type of Duty/Tax field.
4. Select the option Tax on URD Purchase in the Nature of Adjustment field.
5. Debit the input tax ledger created under the group Current Assets and enter the amount.
6. Credit the purchase tax ledger created under the group Duties and Taxes with the option Use for Purchase Tax enabled.
7. Enter the Rate and the Assessable Value for the purchase recorded. The completed Accounting Voucher Creation screen appears as shown below:
8. Press Enter to accept.