Creating Stock Items (Rajasthan)

You can create stock items under specific stock groups in Tally.ERP 9 to reflect the tax values set in the stock group. Alternatively, you can create the stock item under the Primary stock group to apply stock item specific tax details.

3. Select the required group in the Under field. If the stock group is predefined with tax rate and commodity details, the same gets applied to the stock. If it is set to Primary , tax and commodity which are specific to the stock item can be defined.

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

● Select a user defined VAT classification .

o On selecting a user defined VAT classification, the Stock Group Creation screen is displayed.

● Specify VAT details.

o Select the option Undefined in the Classification field of VAT Details screen.

o Enter the Tax rate . If the Tax rate entered is above 0, the Tax type automatically appears as Taxable.

o Enter 0 as the Tax rate , to select the Exempt or Tax Free as the Tax type .

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

1. Set the Classification option in VAT Details screen to:

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

o Any of the user-defined Classification . Once it is applied, rest of the options will disappear and cursor returns to Stock Item Creation screen. Click here to view the detailed procedure of creating VAT Classifications .

2. Enter the Commodity name and Commodity code .

3. Select the Calculation type as On Quantity or On Value .

4. Enter the Tax rate .

5. Press Ctrl+A to accept the VAT Details screen.

Creating Stock Items (Rajasthan)

Setting MRP Details