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VAT details - Configuration Option
To create a supplier ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the Name of the supplier ledger.
3. Select Sundry Creditors as the group name, in the Under field.
4. Set Maintain balances bill-by-bill? to Yes.
5. Enter the Default credit period, if any.
6. Set Check for credit days during voucher entry? to Yes, if required.
7. Enter the Mailing Details.
8. Select the required Country.
9. Select the required State.
10. Enter the PIN Code.
11. Set the option Provide bank details to Yes/No as required.
12. Enter the PAN/IT No.
13. Enable the option Set/Alter VAT Details? and enter the VAT details. The Ledger Creation screen appears as shown below:
14. Press Enter to save.
To create a customer ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the Name of the customer ledger.
3. Select Sundry Debtors as the group name in the Under field.
4. Set Maintain balances bill-by-bill? to Yes.
5. Enter the Default credit period, if any.
6. Set Check for credit days during voucher entry to Yes, if required.
7. Enter the Mailing Details.
8. Select the required Country.
9. Select the required State.
10. Enter the PIN Code.
11. Set the option Provide bank details to Yes/No as required.
12. Enter the PAN/IT No.
13. Enable the option Set/Alter VAT Details?, and enter the VAT details. The Ledger Creation screen appears as shown below:
14. Press Enter to save.
Note: For interstate transactions, you can create ledgers for suppliers and customers belonging to other states.
To configure VAT details
1. Click F12: Configure in VAT Details screen.
o Set Allow CST number? to Yes to define the party’s CST number.
o Set Allow exemption details? to Yes to classify the party as SEZ or Diplomatic Missions & U.N. or Exempted Unit.
o Set Allow Import Export Code? to Yes.
2. Enter the CST No. in VAT Details screen.
3. Enter the Export/Import Code.
4. Select the Type of Exemption. The VAT Details screen appears as shown below:
5. Enter the Notification/SEZ Reg Number based on the exemption type. If the Type of Exemption is set to Not Applicable, the cursor returns to Ledger Creation screen.
Note: The option Sales/purchases against Form C? appears in the VAT Details screen if the party's State selected is other than Chandigarh. The same setting is retained for the option Is against C Form? in the Party Details screen of transactions.
6. Press Enter to save.