FAQ-14 ( VAT / CST ):

How do I pre-define the VAT Commodity while creating/altering stock item?

Creating Stock Item with Commodity Details


Single Stock Item Creation screen


On enabling VAT in F3: Statutory & Taxation Features, the VAT Details section will be displayed in the Stock Item master. In the VAT Details section, a new field Commodityhas been introduced. The VAT Commodity created in the VAT commodity master can be selected in the Commodity field of Stock Item master.


The VAT Commodity can be selected as shown:


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All the commodities created by selecting Both (VAT and Excise) and VAT in Used for field will only be displayed in the List of VAT Commodities. The Commodity marked forExcise in the Used for field will not be listed. Also under Tax information only the commodities created with ptions Both and Excise will be displayed. The VAT commodities will not be listed in Tariff classification section.


Accept the Stock Item Creation screen.


Note: On enabling the option Follow Excise rules for Invoicing along with VAT in F3: Statutory & Taxation features, the options Tariff Classification and Rate of Duty will be displayed. On enabling Excise for Dealers/Manufacturers and VAT, the option Rate of Duty will be displayed only when Tariff Classification is selected.



Multi Stock Item Creation


In the Multi Stock Item Creation screen, VAT Commodity column will be displayed when only VAT is enabled in the F3: Statutory & Taxation Features. The VAT commodity code can be entered for the stock item in this column. The Commodity code entered in the VAT Commodity screen will be displayed along with the Commodity name for identification.


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Auto-fill option for Entering VAT Commodity


In case where the commodity code is not selected while creating the stock items, the same can be pre-defined using the Set Commodity button in the Multi Stock Item alteration screen for all the stock items grouped under particular stock group. In the vertical button bar of Multi Stock Item Creation screen, the Set Commodity button (Ctrl+C) is displayed as shown:




Click on the button Set Commodity. Select the required VAT Commodity to auto-fill the commodity name from the List of VAT Commodities for all the stock items being altered as shown:


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The Set Tariff button (Ctrl+T) will be active when Excise for Dealer/ Manufacturers or Follow Excise rules for Invoicing is enabled in F3: Statutory & Taxation Features as shown:





The Tariff Classification also can be pre-defined along with Commodity Code for the stock items being altered.

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