Creating Stock Groups (Odisha)

You can create stock groups and assign state specific VAT rates to every stock group. Once the VAT rate is applied at the stock group level, all stock items under the specific group will reflect the tax rate assigned to the stock group. However, you can override this while recording a transaction.

To specify the VAT rate for the stock group in the VAT Details screen

1. Set the option Classification to:

o Undefined if unique tax rate and commodity details have to be defined.

o Any of the user-defined classification. Once applied, the other options disappear and cursor returns to Stock Group Creation screen. Click here to view the detailed procedure of creating VAT Classifications .

2. Enter the Tax rate .

3. Select the Tax type .

4. Click F12: Configure to configure additional details. The VAT Details screen appears as shown below:

5. Press Ctrl+A to accept, and return to the Stock Group Creation screen.