On this page:
Changing the period of VAT Rate Setup
Changing the stock group of a stock item
Enforce rate on items under a group
To set VAT rates
1. Go to Gateway of Tally > Inventory Info. > Tax Rate Setup > VAT or,
Go to Gateway of Tally > Display > Statutory Reports > VAT > Tax Rate Setup.
2. Click F1: Detailed.
The VAT Rate Setup screen appears as shown below:
3. Select stock groups or stock items.
4. Click S: Set Rate to view the VAT Details screen.
5. Click F12: Configure to enter details of nature of goods and commodity details, if required.
6. Click L: Details to view all VAT rates used for the stock item. Different VAT rates with their Applicable From date can also be specified.
Note: VAT details are displayed automatically in the VAT Details screen if information is specified by clicking L: Details.
7. Enter Tax rate.
The VAT Details screen appears as shown below:
8. Press Enter to save.
The VAT Rate Setup screen with all rate details set for a stock item, appears as shown below:
To change the period of VAT Rate Setup
● Click F2: Period in the VAT Rate Setup screen.
● Specify the date range to view VAT rates of stock items.
Note: The VAT Rate Setup screen displays information from the current date, till the first day of the previous month. Specify a date range that covers all VAT rate changes over a period of time.
To change the stock group of a stock item
1. Press Ctrl+G in the VAT Rate Setup screen. The Alter Stock Group for Selected Item(s) screen appears as shown below:
2. Select a stock group to move the stock item.
3. Press Enter.
Note: Select a stock group in the VAT Rate Setup screen. Press Alt+C to create a new sub-group under any of the existing groups. Stock items can be moved to the new sub-group. This makes it easy to group stock items with the same VAT rates. Any rate changes can be applied to the whole sub-group without having to change them manually for each stock item.
Enforce Rate option allows configuration of rate details for a group and automatically clears rate from items under it. The details recorded at group level is inferred to sub-groups and items, however, item level changes are allowed and same will be considered for the particular item.
To enforce rate for a group and clear tax details from items
1. Click F: Enforce Rate in the VAT Rate Setup screen.
2. Enter Tax rate.
A warning message appears as shown below:
3. Click Yes to continue with enforcing the rate change.
To remove rate details for a group or item
● Press Ctrl+C.
A message appears as shown below:
● Click Yes to clear rate for the item.
Multiple items can be selected using Space Bar to clear the tax details.
To view pre-configured rate with current rate
1. Click F12: Configure.
2. Enable the option Show pre-configured VAT rate detals?.
3. Press Ctrl+A.
The VAT Rate Setup screen with Previous Rate Configuration and Current Rate Configuration appears as shown below:
The Previous Rate Configuration section displays all rate information derived from stock item masters in the migrated data.
To view groups/items without tax rate
1. Click F12: Configure.
2. Select the option Without configured/inferred rate as Show items based on availability of tax details.
3. Press Enter.
The VAT Rate Setup screen with details of groups/items without tax information appears as shown below:
