You can record sales of items with applicable tax on the MRP in Telangana, by selecting the appropriate stock item and the VAT ledger. The stock items must be enabled with the Calculate VAT on MRP option and the ledger must be grouped under the Duties & Taxes category.
To record sales transaction with tax on MRP
1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales.
2. Select the customer name in the Party’s A/c Name field.
3. Select the required sales account.
4. Select the stock item for which Calculate VAT on MRP is enabled.
o Enter Quantity and Rate for the item.
o Press Enter.
5. Select the common VAT ledger. The rate will be calculated automatically based on MRP of the item.
The sales invoice appears as shown below:
6. Press Enter to save.