Wednesday, April 27, 2016

How to record entries using the VAT/Tax class provided for 13.5% in Tally.ERP 9 West Bengal VAT enabled company?

8:29 AM · 0

Purchase Entries

Go to Gateway of Tally > Accounting Vouchers > F9: Purchases

Taxable Purchases

In the Purchase entry, after party ledger, select Purchase Ledger with the VAT/Tax class - Purchases @ 13.5%. Select the Input VAT ledger with VAT/Tax class - Input VAT @ 13.5%. The purchase entry appears as shown:

Purchase of Capital Goods @ 13.5%

In the purchase voucher mode, press F12: Configure and set Allow Expenses / Fixed Assets in Purchase Vouchers to Yes.

Credit: Supplier Ledger

Debit: machinery ledger grouped under Fixed Assets with VAT/Tax Class - Purchases - Capital Goods @ 13.5%

Debit: Tax on Capital Goods @ 13.5% ledger grouped under Duties & Taxes with Type of Duty/Tax as VAT and VAT/Tax Class - Purchases - Capital Goods @ 13.5%.

Purchase from Unregistered Dealers @ 13.5%

In the Purchase entry, after party ledger, select Purchase Ledger with the VAT/Tax class - Purchase From URDs - Taxable Goods @ 13.5%.

Interstate Purchases @ 13.5%

In the Purchase entry, after party ledger, select Purchase Ledger with the VAT/Tax class - Interstate Purchases @ 13.5%. Select the CST on purchase ledger with VAT/Tax class - Interstate Purchases @ 13.5%. The purchase entry appears as shown:

Sales Entries

Go to Gateway of Tally > Accounting Vouchers > F8: Sales

Taxable Sales @ 13.5%

In the Sales entry, after party ledger, select Sales Ledger with the VAT/Tax class - Sales @ 13.5%. Select the Output VAT ledger with VAT/Tax class - Output VAT @ 13.5%. The sales entry appears as shown:

Sales - Works Contract

Select the Party’s A/c Name.
Select Sales Ledger with the VAT/Tax class - Works Contract
The VAT/Tax Class appears as Works Contract
Select the Name of Item and enter the Amount.
In the amount field press Enter key to view the Works Contract Details screen.
In the Works Contract Details screen, enter the Description of the Contract undertaken. Under the Deductions section, enter either the Deduction for Labour Charges or Detailed Deductions.
On specifying the percentage or amount of Deduction for Labour Charges, the cursor will skip the Detailed Deductions section. Select the VAT/Tax Class - Output VAT - Works Contract @ 13.5%.

In the sales invoice, select the Output VAT ledger with the VAT/Tax Class - Output VAT - Works Contract @ 13.5%

Accept the sales invoice.

Interstate Sales @ 13.5%

In the Sales entry, after party ledger, select Sales Ledger with the VAT/Tax class - Interstate Sales @ 13.5%. Select the CST on Sales ledger with VAT/Tax class - CST @ 13.5%. The sales entry appears as shown: