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Sale of Goods Subject to TCS [TCS] in Tally.ERP 9

To create Sales Voucher

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

Setup:

In F12: Configuration (Sales Invoice Configuration)

  • Set the option Calculate Tax on current Sub-Total to Yes


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  1. Press Alt+I for Item Invoice mode (If the invoice mode is Account invoice).

  2. Enter the date and reference.

  3. Select the Party from the List of Ledger Accounts in Party’s A/c Name.

  4. Select Sales Ledger from the List of Ledger Accounts.

  5. VAT/Tax Class field gets updated as per the VAT/Tax Class selected during Sales ledger Creation.

  6. Select the Stock Item from the List of Items in Name of Item.

  7. Enter the Quantity and the Rate to get the amount in the Amount field.

  8. Select the Output VAT ledger from the List of Ledger Accounts.

  9. Select the TCS ledger from the List of Ledger Accounts and press enter to view TCS Details screen.

  10. In the TCS Details screen, by default the accumulated value of Item value and VAT amount  is picked up and displayed as the Gross Amount (can be changed if required).Income Tax is calculated at prescribed rate on the Gross amount.  

  11. In TCS - Bill-wise Details for: TCS @ 2.5% section, accept the default bill details for Type of Ref, Name, Due Date, or Credit Days (By default, 7th of the following month) and Amount.

 
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Note: To calculate TCS on Gross amount (Item value and output VAT), ensure the option Calculate Tax on current Sub-Total is set to Yes in F12: Configuration (Sales Invoice Configuration).

  1. Accept the Default Bill Allocation in the Bill-wise Details screen.

  2. Enter Narration, if required.

 
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  1. Press Enter to accept and save.

Similarly check for sale of goods @ Lower/Zero Rate

Sale of Goods Subject to TCS @ Lower Rate

Sale of Goods Subject to TCS @ Nil Rate

 
 
 
 
Tally.ERP 9 Reference Manual LIBRARY
1.
Installation of Tally.ERP9
2.
Site Licensing of Tally.ERP9
3.
Shortcut Keys in Tally.ERP9
4.
Maintaining Company Data
5.
Creating Masters
5a. Accounts Information [Creating Masters]
5b. Inventory Information [Creating Masters]
6.
Voucher Entry
7.
Reports in Tally.ERP9
8.
Excise for Dealer
9.
Excise for Manufacturer
10.
Reports [ Excise for Manufacturer]
11.
Excise for Importer
12.
Service Tax in Tally.ERP9
13.
Tax Collected at Source (TCS) in Tally.ERP9
14.
Tax Deducted at Source (TDS) in Tally.ERP9
15.
Value Added Tax (VAT) in Tally.ERP9
16.
Central Sales Tax (CST) in Tally.ERP9
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
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