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VAT Classifications

You can create user defined classification with VAT details.

  1. Gateway of Tally > Create > type or select VAT Classification > and press Enter.
    Alternatively, press Alt+G (Go To) > Create Master > type or select VAT Classification > and press Enter.
  2. Press F12 (Configure) to enable the required options. In the configuration screen,
    • Set the options Enable Nature of transaction to Yes.
    • Accept the screen. As always, you can press Ctrl+A to save.
  3. Enter the Name of the new classification.
  4. Enter the applicability dates with the corresponding tax rates in Applicable From and Tax rate columns, respectively.
  5. Select the required Nature of Transactions.
  6. Enter the details in the respective columns. The Stat Classification Creation screen appears as shown below:
  7. Accept the screen. As always, you can press Ctrl+A to save.

Click here for options provided in VAT Classification master of some of the VAT states, as per state specific requirements of VAT/CST returns and annexures.

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