Enabling VAT (Punjab)

To provide tax details

1. Press F12: Configure in the Tax/Rate Details screen.

- Enable the option Set CST rate? to enter CST details.

- Enable the option Set type of goods? to identify goods as regular, Declared or pre-owned cars.

- Set the option Provide Trade name? to Yes.

- Set the option Provide commodity details? to Yes to select the relevant schedules.

2. Press Enter to accept the Configuration screen, and return to the Tax/Rate Details screen.

3. Enter the CST and VAT rates in Against Form C and Tax rate fields.

4. Enter the Surcharge rate.

5. Select the VAT Schedule and the Type of goods.

6. Select the Trade name.

7. Press Ctrl+C to select the Commodity name.

8. Enter the Commodity Code. The Tax/rate details screen appears as shown below:

9. Press Ctrl+A to save, and return to the Company VAT Details screen.

The option to select the Calculation type appears in the VAT Details screen of stock item.

To provide additional details in the Company VAT Details screen

1. Click F12: Configure.

2. Enable the option Show VAT applicable from? to enter the date from when VAT registration is applicable.

3. Enable the option Show additional details? to provide additional information.

4. Enter the Additional Information, as required. The detailed Company VAT Details screen appears as shown below:

5. Press Ctrl+A to accept.