Recording Sales of Fourth Schedule Goods (Assam)

To account sales of non-creditable goods, create invoices with nature of transaction as Sales Taxable, calculation type On Value, schedule as Fourth Schedule.

Sales Taxable for Fourth Schedule goods based on value

To record local sale of Schedule IV Goods based on value

1.     Go to Gateway of Tally > Accounting Vouchers > F8: Sales.

2.     Enter Supplier Invoice No. and Date.

3.     Select the party ledger in Party's A/c Name option.

4.     Select a sales ledger where:

●      Is VAT/CST Applicable? is set to Applicable.

●      Set/Alter VAT Details? is enabled.

●      Nature of Transactions is set as Sales Taxable.

5.     Select the stock items that have the following options, and enter Quantity and Rate for each stock item.

●      Calculation Type set as On Value.

●      Tax rate is specified.

●     Tax type set as Taxable.

●     Schedule set as Fourth Schedule.

6.     Click A: Tax Analysis to display the Tax Analysis screen.

●      Click F1: Detailed to view the names of stock items.

The Tax Analysis screen appears as shown below:

The sales invoice appears as shown below:

7.     Press Enter to save.

Sales Taxable for Fourth Schedule Goods based on Quantity

To record local sale of Fourth Schedule goods based on quantity

1.     Go to Gateway of Tally > Accounting Vouchers > F8: Sales.

2.     Enter Supplier Invoice No. and Date.

3.     Select the party ledger in the field Party's A/c Name.

4.     Select a sales ledger where:

●      Is VAT/CST Applicable? is set to Applicable.

●      Set/Alter VAT Details? is enabled.

●      Nature of Transactions is set as Sales Taxable.

5.     Select the stock items that have the following options, and enter Quantity and Rate for each stock item.

●      Calculation Type set as On Quantity.

●      Tax rate per quantity is specified.

●     Tax type set as Taxable.

●     Schedule set as Fourth Schedule.

6.     Click A: Tax Analysis to display the Tax Analysis screen.

●      Click F1: Detailed to view the names of stock items.

The Tax Analysis screen appears as shown below:

The sales invoice appears as shown below:

7.     Press Enter to save.

Sales of Fourth Schedule Goods Tax Free

To record a subsequent sale of Schedule IV Goods

1.     Go to Gateway of Tally > Accounting Vouchers > F8: Sales.

2.     Enter Supplier Invoice No. and Date.

3.     Select the party ledger in the field Party's A/c Name.

4.     Select a sales ledger where:

●      Is VAT/CST Applicable? is set to Applicable.

●      Set/Alter VAT Details? is enabled.

●      Nature of Transactions is set as Sales - Tax Free.

5.     Select the stock items that have the following options, and enter Quantity and Rate for each stock item.

●     Tax type set as Tax Free.

●     Schedule set as Fourth Schedule.

6.     Click A: Tax Analysis to display the Tax Analysis screen.

●      Click F1: Detailed to view the names of stock items.

The Tax Analysis screen appears as shown below:

The sales invoice appears as shown below:

7.     Press Enter to save.