Creating Stock Groups (Andhra Pradesh)

Create stock groups for classifying items based on common features. You can also apply a common tax rate for all items in a stock group.

To specify the VAT rate for the stock group

1. Set the Classification option in VAT Details screen to:

o Undefined if unique tax rate and commodity details have to be defined.

o Any of the user-defined classification. Once applied, the other options disappear and cursor returns to Stock Group Creation screen. Click here to view the detailed procedure of creating VAT Classifications.

2. Enter the Commodity Name and Commodity Code. To view the list of commodities already created, click C:Helper.

3. Enter the Tax rate.

4. Select Tax Type.

5. Select the Schedule from List of Schedules/Groups, if required.

6. Click F12: Configure to configure additional details. The VAT Details screen appears as shown below: