Creating Stock Groups (Puducherry)

To create a stock group

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

2.     Enter the Name of the stock group.

3.     Select the required group in the Under field.

4.     Enable the option Set/alter VAT details?.

5.     Enter the relevant details in the VAT Details screen.

6.     Press Enter to save.

The Stock Group Creation screen appears as shown below:

7.     Press Enter to save.

Defining nature of goods, commodity and schedules in Stock Group

To provide additional tax/rate details

1.     Enable Set/alter VAT details?.

2.     Click F12: Configure to view the Configuration screen.

3.     Set the following options to Yes, if required.

o      Set type of goods?

o      Provide nature of goods?

o      Provide commodity details?

o      Provide schedule details?

4.     Select Type of goods.

5.     Select Nature of goods.

6.     Enter the Commodity name and Commodity code

7.     Press L: Details to specify different VAT rates with separate Applicable From dates.

8.     Enter the Tax rate. Press Enter without specifying the rate to select Exempt or Tax Free in the Tax type field.

The VAT Details screen with commodity details appears as shown below:

9.     Press Enter to save the details in the VAT Details screen.

10.  Press Ctrl+A to save.