FAQ-12 ( VAT / CST ):

Recording Taxable Sales at Multiple VAT Rates in Single Invoice

Query

 

How to record taxable sales at multiple VAT rates in single invoice?

 

Solution:

 

Tax Invoice Voucher Type

Go to Gateway of Tally > Accounts Info. > Voucher Types > Create

§  Enter the Name of the Voucher Type, for e.g., Tax Invoice

§  Select the Type of Voucher as Sales from the List of Voucher Types

§  In the Abbr. field, you may abbreviate the voucher type as per your requirement or retain the same.

§  Select the Method of Voucher Numbering as Automatic

§  Set Print after saving Voucher to Yes or No as applicable.

§  Enter the Default Print Title as TAX INVOICE

§  Set the field Is Tax Invoice to Yes

§  Accept and save the Tax Invoice.

 

Recording Taxable Sales in Tax Invoice

Go to Gateway of Tally > Accounting Vouchers > F8: Sales >  Select Tax Invoice

Press F12: Configure and set Use Common Ledger A/c for Item Allocation to No. This option is disabled when multiple sales ledgers are required to be selected in a single invoice.

In case where only one sales ledger is to be selected for recording sales this option can be enabled.

§        Select the party ledger in Party’s A/c Name field.

§        Select the stock item taxable @ 1%. Enter the Quantity and Rate.

§        In the Accounting Details screen, select the sales ledger with the VAT/Tax class - Sales @ 1%.

§        Select the stock item taxable @ 15%. Enter the Quantity and Rate.

§        In the Accounting Details screen, select the sales ledger with the VAT/Tax class - Sales @ 15%.

§        Select the stock item taxable @ 20%. Enter the Quantity and Rate.

§        In the Accounting Details screen, select the sales ledger with the VAT/Tax class - Sales @ 20%.

§        Select the Output VAT ledgers grouped under Duties & Taxes with Type of Duty/Tax as VAT, VAT Sub Type as Output VAT and VAT/Tax class - Output VAT @ 1%,Output VAT @ 15% and Output VAT @ 20%. The amount of VAT is automatically calculated on the assessable value.

 

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§         Press Enter to accept and save.

 
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