Creating Stock Items (Uttar Pradesh)

You can create stock items and set if the VAT is applicable for the stock items. You can also set the MRP in the stock item master along with state-wise rates for the items.

To create a stock item

1.    Go to Gateway of Tally > Inventory Info. > Stock Items > Create.

2.    Enter the Name of the stock item.

3.    Select the required group in Under field. If the stock group is predefined with tax rate and commodity details, the same gets applied to the stock. If it is set to Primary, tax and commodity which are specific to the stock item can be defined.

4.    Select the required unit of measurement in Units field.

5.    Set the option VAT Applicable to Applicable.

6.    Enable the option Set/alter VAT details? if the item is not grouped under stock group predefined with tax details.

The Stock Item Creation screen appears as shown below:

7.    Press Enter to save.

Setting MRP Details

To enable MRP feature in stock item master

1.    Go to Gateway of Tally > Inventory Info. > Stock Items > Create.

2.    Click F12: Configure in Stock Item Creation screen.

3.    Enable the option Allow MRP/Marginal for stock items? and accept the Master Configuration screen.

4.    Enable Set/alter MRP details? in Stock Item Creation screen. MRP value to be applicable in different states can also be defined.

5.    Enter the MRP Rate in the MRP Details screen.

6.    Press Enter to save the MRP Details.

7.    Press Ctrl+A to save.