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Creating Masters for Composite VAT ( Purchase Ledger) [ VAT ]in Tally.ERP 9

To create a Purchase Ledger,

Go to Gateway of Tally > Accounts Info. > Ledgers > Create

  • Enter the Name of the Purchase Ledger

  • In the Under field, select Purchase Accounts from the List of Groups

  • Set the field Inventory values are affected to Yes

  • Set the field Used in VAT Returns to Yes


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  • Select the VAT/Tax Class from the list displayed.

Note: The VAT/Tax Classifications pertaining to purchases will be displayed for selection based on the State and the Type of Dealer pre-defined in the F3: Statutory & Taxation Features. The VAT/Tax classifications displayed for purchases in this example pertains to Karnataka State.


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  • Accept the purchase ledger.

For Karnataka State, the VAT/Tax class - Purchase from URDs - Taxable Goods (Composition) can be used for recording purchases made at different tax rates from unregistered dealer. To create ledgers for different tax rates, follow the steps given below:

Step 1: Altering the Purchase Accounts Group

Go to Gateway of Tally > Accounts Info. > Group

Select Purchase Account and set the option - Use for Calculation (e.g. Taxes, Discounts) to Yes and accept the group alteration screen.


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Step 2: Creating Purchase from URDs Ledger for Different Tax Rates

In the Purchase Ledger creation screen,

  • Select the group as Purchase Accounts

  • Enter the required tax rate in Percentage of Calculation field

  • Select On Total Sales as the Method of Calculation

  • Set Used in VAT Returns to Yes and select the VAT/Tax Class - Purchase From URDs - Taxable Goods (Composition)


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  • Accept the Ledger creation screen.

 
 
 
 
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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