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FAQ-7 ( VAT / CST ):

Voucher Class for Auto-Calculation of VAT in Tax Invoice

Query

 

How to create a voucher class and use it in Accounting Invoice mode of Tax Invoice?

 

Solution:

 

Create/Alter a Tax Invoice to define a voucher class.

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

Create a tax invoice if not created earlier else alter it to define the voucher class.

Enter the Name of Class and press Enter key

 

Tally.ERP9

   [12-45]

Under Default Accounting Allocations for each Item in Invoice select sales ledger and enter the percentage as 100%. Set Override using Item Default to No.

Under Additional Accounting Entries select the sales ledger with Type of Calculation set to As User Defined Value as the sale value depends on the amount entered by the user. Select the output VAT ledger with Type of Calculation set to On VAT Rate. Enter the percentage under Value Basis.

 

learn tally erp 9

   [12-46]

Accept the Voucher Type Class screen and the Tax Invoice voucher type.

 

Tax Invoice :

 

Go to Gateway of Tally > Accounting Vouchers > F8: Sales > Select Tax Invoice with the name of voucher class

 

 

Tally.ERP9 Book

   [12-47]

 

The sales and output VAT ledgers with percentage of VAT will be displayed automatically. Based on the user-defined value entered for sales, the output VAT amount gets calculated.

 

tds in tally erp 9

   [12-48]

VAT Computation

 

Go to Gateway of Tally > Display > Statutory Reports > VAT > VAT Computation

 

The VAT Computation screen with assessable value and tax amount displays as shown:

 

vat in tally erp 9

   [12-49]

 
 
 
 
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