Creating Stock Groups (Haryana)

To specify the VAT rate for the stock group

1.     Set the Classification option in VAT Details screen to:

●       Undefined if unique tax rate and commodity details have to be defined.

●      Any of the user-defined Classification. Once it is applied, rest of the options will disappear and cursor returns to Stock Group Creation screen. Click here to view the detailed procedure of creating VAT Classifications.

2.     Enter the Tax Rate. If tax rate entered in more than 0, the Tax Type displays Taxable. If tax rate is 0, the Tax Type can be selected as Exempt or Tax Free.

To define commodity details and nature of goods

1.     Click F12: Configure and set the following options to Yes:

●      Provide nature of goods.

●      Provide commodity details.

●      Set type of goods.

2.     Press Ctrl+A to save.

3.     Select the Type of Goods.

4.     Select the Nature of goods as Manufactured or Lower Rate as per requirement.

5.     Enter the Commodity name.

6.     Enter the Commodity code.

7.     Enter the Reporting UoM.

8.     Enter the Tax rate and Surcharge.

9.     Press Enter to save.