Recording Sales Inclusive of Tax (Punjab)

You can record a sales invoice for an item where the item rate is inclusive of tax.

To record sales transactions which are inclusive of tax

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

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

3.     Select the Sales Ledger with taxable nature of transaction.

4.     Select the stock item for which the option Is inclusive of duties and taxes? is enabled.

5.     Enter the  the tax inclusive rate for an unit of item in the Rate (Inclusive of Tax) field, in the Inclusive of Tax screen.

6.     Press Enter. The amount appears automatically.

Note: You can enable an additional column in the invoice to enter the stock item value, which is inclusive of tax.

7.     Select the common VAT and surcharge ledger. Based on the VAT rate, amount will be automatically displayed. The sales invoice appears as shown below:

8.     Press Enter to save.

See also:

Creating a tax invoice voucher type