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Sales Exempt – Works Contract (VAT)

You can record exempt on-going works contract sales by selecting the nature of transaction Sales Exempt – Works Contract.

This nature of transaction is provided for Maharashtra and West Bengal.

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. 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.
  3. Select the sales ledger grouped under Sales Accounts with Nature of transaction set to Sales Exempt – Works Contract.
  4. Select the stock item. Enter the Amount. The sales invoice appears as shown below:
    Sales Invoice Recorded for Sales Exempt - Works Contract
  5. To view the VAT – Tax Analysis screen, press Ctrl+O (Related Reports) > type or select VAT – Tax Analysis> and press Enter.

    If you are on TallyPrime Release 1.1.3 or earlier, follow the step:
    To view the VAT – Tax Analysis screen, press Ctrl+I (More Details) > type or select VAT – Tax Analysis> and press Enter.

  6. Press Alt+F5 (Detailed) to view in detailed mode. The VAT – Tax Analysis screen appears as shown below:
    VAT - Tax Analysis in TallyPrime
  7. Press Esc to return to the sales invoice.
  8. 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.

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