Sales Zero Rated (VAT)
You can record sales of zero rated goods by selecting the nature of transaction Sales Zero Rated.
This nature of transaction is provided for Assam, Chandigarh, Dadra & Nagar Haveli and Daman & Diu, Delhi, Goa, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Puducherry, Punjab, Rajasthan, Tamil Nadu, Uttarakhand, and West Bengal.
- Gateway of Tally > Vouchers > press F8 (Sales).
Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales). - Select the party ledger in the field Party A/c name.
As always, press Alt+C, to create a master on the fly. Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger > press Enter. - Select the sales ledger grouped under Sales Accounts with Nature of transaction set to Sales Zero Rated, by selecting the required Party Entity/Org. Type.
Note: For Jharkhand, Tamil Nadu and West Bengal, the Party Entity/Org. Type is not required for filing returns, hence this option is not provided.
As in other transactions, you can create the ledger on the fly by pressing Alt+C. Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger > and press Enter. - Select the required stock item. Enter the Quantity and Rate.
- Set the option Provide VAT details to Yes. In the Statutory Details screen.
- Select the Form to receive as shown below:
Note: The options in the above screen appear based on the State selected in the Company VAT Details screen.
- Enter the other relevant details.
- Press Enter to save and return to the sales invoice. The sales invoice appears as shown below:
- Select the Form to receive as shown below:
- Accept the screen. As always, you can press Ctrl+A to save.
The value of this transaction gets captured in the relevant fields of state-specific VAT/CST forms and annexures.
