To record a purchase transaction from unregistered dealers
1. Go to Gateway of Tally > Accounting Vouchers > F9: Purchase.
2. Click F12: Configure and set the option Allow modification of Tax Details for VAT? to Yes.
3. Enter the Supplier Invoice No. and Date.
4. Select the supplier ledger in field Party’s A/c Name.
5. Select a common purchase ledger in which the option Is VAT/CST Applicable? is set to Applicable, and Set/Alter VAT Details? is not enabled.
6. Select Purchase From Unregistered Dealer as nature of transaction in the VAT Classifications Details screen, and press Enter.
7. Select the required stock items whose VAT rates are specified either at the stock group or stock item level. Enter the Quantity and Rate.
8. Set the option Provide VAT Details? to Yes/No, as required.
The purchase invoice appears as shown below:
9. Press Enter to save.
To create tax liability on purchase from unregistered dealers
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.
2. Click J: Stat Adjustment to enable the required options in the Stat Adjustment Details screen.
3. Debit the ledger created under the group Indirect Expenses and enter the amount.
4. Credit the purchase tax/VAT ledger created under the group Duties & Taxes.
o Enter the Rate, and Assessable Value of the stock item purchased in the VAT Details screen. The VAT Details screen appears as shown below:
o Press Enter to return to voucher screen.
The journal voucher appears as shown below:
5. Press Enter to save.