Defining VAT Details in Purchase and Sales Ledgers

You can define VAT details like tax rate in the purchase and sales ledgers, if you don't want to use a common ledger for all purchases or sales.

Purchase Ledger

To define VAT details in a purchase ledger

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

2. Enter the Name of the purchase ledger.

3. Select Purchase Accounts in the Under field.

4. Set the option Inventory values are affected? to Yes .

5. Set Is VAT/CST Applicable? to Applicable .

6. Enable the option Set/Alter VAT Details? to view the VAT Details screen.

7. Select the Nature of Transaction .

8. Enter the VAT Rate .

9. Press Enter to view the Ledger Creation screen.

10. Press Ctrl+A to save the ledger.

Sales Ledger

To define VAT details in a purchase ledger

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

2. Enter the Name of the purchase ledger.

3. Select Purchase Accounts in the Under field.

4. Set the option Inventory values are affected? to Yes .

5. Set Is VAT/CST Applicable? to Applicable .

6. Enable the option Set/Alter VAT Details? to view the VAT Details screen.

7. Select the Nature of Transaction .

8. Enter the VAT Rate .

9. Press Enter to view the Ledger Creation screen.

10. Press Ctrl+A to save the ledger.