In Tally.ERP 9, you can record a tax invoice to account for the sale of pre-owned cars.
To record a tax invoice for sale of pre-owned cars
1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales > Tax Invoice .
2. Select the party ledger.
3. Select the Sales Ledger predefined with the nature of transaction Sales Taxable .
4. Select pre-owned car as the stock item.
5. Ensure the following details are provided in the VAT Details screen of stock item:
o Type of goods are set to Pre-Owned Cars (Above 1000 CC) or Pre-Owned Cars (On Or Below 1000 CC)
o Calculation type is set to On Quantity
o Tax rate is entered as 3,000 or 5,000 based the Type of goods (pre-owned cars - above or below 1000 cc).
o Surcharge is entered as 10%.
6. Enter the Quantity and Rate .
7. Select the VAT ledger. The amount appears based on the amount entered in Tax rate field of stock item master.
8. Select the surcharge ledger.
9. Press Ctrl+A to accept.