Sales at MRP (Kerala)

To create stock item with MRP

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

2. Press F12:Configure button.

o Set the option Allow MRP/Marginal for stock items? to Yes .

o Press Ctrl+A to save.

3. Enter the stock item Name .

4. Select the required group in the Under field.

5. Select the unit of measure in the Units field.

6. Set the option VAT Applicable to Applicable .

7. Set the option Set/alter VAT details? to Yes .

8. In the VAT Details screen

o Enter the Tax Rate .

o Enter the date from which the tax is applicable.

o Enter the rate of Cess .

o Set the option Calculate VAT on MRP? to Yes .

o Press Ctrl+A to save and return to the Stock Item Creation screen.

9. Set the option Set/alter MRP details to Yes .

● Enter the MRP Rate .

● Press Enter .

10. Press Ctrl+A to save the stock item master.

To create a common VAT ledger

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

2. Enter the Name of the VAT ledger.

3. Select Duties & Taxes in the Under field.

4. Select Types of Duty/Tax as VAT .

5. Set Use for Purchase Tax? to No .

6. Press Enter to skip the Percentage of Calculation field.

7. Press Enter to save.