Every business organization who are dealing with Sales of goods need to pay off the VAT charges to the State Government as per VAT rules. So, you must know the amount of charges to pay off the VAT against the Assessable Value that you get for a specific period. You can start this article after reading About VAT article if you are the beginner.
It is the most important thing to set out Features for your Company in Tally ERP 9 to make effect the VAT automatic calculation. To enable VAT for your Company
- Press F11 key or click on F11: Features button in Button Area.
- If you are going from Gateway of Tally screen select Statutory & Taxation option other press F3 key.
- Set Yes for Enable Value Added Tax(VAT) and Set/Alter VAT Details under Statutory & Taxation section.
- Provide VAT details of your company under VAT Details section. and enter CTO address and your company details under Additional Information.
- Now Enter your TIN Number and CST Number under Tax Information section and save the changes.
And finally Accept them and next go the VAT Commodity Creation part for further process. If you have still doubt watch this in the below video.