VAT Rate Setup (Kenya)

This tool can be used to set VAT rates from the VAT Rate Setup screen.

On this page:

Setting the VAT rate

Changing the period of VAT Rate Setup

Changing the stock group of a stock item

To set VAT rates

1.    Go to Gateway of Tally > Inventory Info. > Tax Rate Setup > VAT.

Or

Go to Gateway of Tally > Display > Statutory Reports > VAT > Tax Rate Setup.

The VAT Rate Setup screen appears as shown below:

2.    Click F8: Commodity Name to view stock items commodity-wise, if required.

3.    Select stock groups or stock items, and press Enter.

4.    Click S: Set Rate to view the Set VAT Details screen.

5.    Click F12: Configure to enter details of nature of goods and commodity details, if required.

6.    Click L: Details to view all VAT rates used for the stock item. Different VAT rates with their Applicable From date can also be specified.

Note: VAT details are displayed automatically in the Set VAT Details screen if information is specified by clicking L: Details.  

7.    Enter Tax rate.

The Set VAT Details screen appears as shown below:

8.    Press Ctrl+A to save the screen.

The VAT Rate Setup screen with all rate details set for a stock item, appears as shown below:

To change the period of VAT Rate Setup

1.    Press F2: Period in the VAT Rate Setup screen.

2.    Specify the date range to view VAT rates of stock items.

Note: The VAT Rate Setup screen displays information from the current date, till the first day of the previous month. Specify a date range that covers all VAT rate changes over a period of time.

To change the stock group of a stock item

1.    Press T: Alter Group in the VAT Rate Setup screen. The Alter Stock Group for Selected Item(s) screen appears as shown below:

2.    Select a stock group to move the stock item.

Note: Select a stock group in the VAT Rate Setup screen. Press Alt+C to create a new sub-group under any of the existing groups. Stock items can be moved to the new sub-group. This makes it easy to group stock items with the same VAT rates. Any rate changes can be applied to the whole sub-group without having to change them manually for each stock item.