Sales Inclusive of Tax (Goa)

To create stock item with inclusive of tax configuration

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

2. Click F12: Configure.

o Set Allow inclusive of tax for stock items? to Yes.

o Press Ctrl+A to save.

3. Enter the name of the stock item in the Name field.

4. Select the required stock group in the Under field.

5. Select unit of measurement in the Units field.

6. Select the option Applicable in the VAT Applicable field.

7. Enable the option Set/alter VAT details to provide tax details.

o Enter Tax Rate in VAT Details screen.

o Press Ctrl+A to save.

8. Set Is Inclusive of duties and taxes? to Yes.

9. Press Enter to save.

5. Enter the the tax inclusive rate for an unit of item in the Rate (Inclusive of Tax) field, in the Inclusive of Tax screen.

To enter the invoice value (inclusive of tax) by enabling an additional column in the invoice

1. Click F12: Configure and set the option Allow entry of rate inclusive of tax for stock item to Yes.

2. Press Ctrl+A to save. The column Rate (Incl. of Tax) appears in the invoice as shown below:

3. Enter the stock item value inclusive of tax in this column.

7. Select the common VAT ledger. Based on the VAT rate, amount will be automatically displayed. The sales invoice appears as shown below:

Ledger must be grouped under Duties & Taxes with the following settings:

● Set Type of duty/tax to VAT (CST in case of interstate sales).

● Set Percentage of Calculation to 0.

See also: