Tally 7.2 and Tally 8.1 are VAT compliant versions. You can generate state specific VAT returns. VAT sales and Purchase annextures can be printed automatically just by entering data in correct format and defining correct ledgers classes. If you have to prepare VAT returns through Tally then company configuration has to be changed.
In case of Tally 7.2 just modify company details and select use for Indian VAT Yes.
In case of Tally 8.1 go to F11 and alter statutory Features in F3. Select VAT to Yes.
Keep in mind to select State from List in Address section. The statutory master would be selected for that state only.
Make separate ledgers for sales and purchase for separate VAT rate. For example if you are dealing in 4% and 12% VAT rate items then you have to make ledgers for Sales 4% and Sales 12% under sales and Purchase 4% and purchase 12% under Purchase account. Correct VAT/Tax Class has to mentioned while creating those ledgers.
Now make ledger for input and output VAT ledgers for collection of sales VAT and Purchase VAT. These should be separate for different VAT rate. i.e. input VAT 4% and input VAT 12% in the same way make ledgers for output VAT for purchase VAT. At this moment you have to assign proper VAT/Tax class for these ledger.
Now make entries by entering vouchers of sales and purchase. and you would find proper figures are appearing in respective forms. You would also find proper VAT computation in VAT computation screen. You can check it by going to Gateway of Tally >Display> Statutory Reports>Vat Classification > VAT Computation
If some forms are not shown then cross check the VAT class allocation for that ledger. Tally has tried to rectified all VAT related problems but still many states VAT returns are facing problems.
For more help regarding VAT knowledge you can see the full white paper available on Tally's site on VAT, or you can find basics of VAT Here.
For any suggestion or your problem related to VAT leave a comment here.
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I am from gujarat, we need two seprate list for Tax Invoice and Retail Invoice then how to get it please help me, mail me on dvchudasama@gmail.com
ReplyDeletethank your very much for lots of good help for tally
good article
ReplyDeletefrom 1st April 2008 in gujarat 2.5% & 1% add vat applied is it updated in tally.
ReplyDeleteAnand ji, You can get the latest statutory in Tally stat file. All you have to do is install the latest stat file and it would be updated. You can view the stat release notes files also from Tally's Site.
ReplyDeletewe are using tally 9.0, please provided me KVAT(Karnataka)-2003
ReplyDeleteIneligible input tax credit how to use please provide me help
our email Id:durgaprasaddr@gmail.com
we are using tally 9.0, please provided me KVAT(Karnataka)-2003
ReplyDeleteIneligible input tax credit how to use please provide me help
our email Id:durgaprasaddr@gmail.com
we are using tally 9.0, please provided me KVAT(Karnataka)-2003
ReplyDeleteIneligible input tax credit how to use please provide me help
our email Id:durgaprasaddr@gmail.com
I think in tally 9 , the system of recording transactions of Purchase and sale is little change and there is no need to make purchase and sale accounts two rates VAT but tally 9 automatically adjust this point and you can pass the voucher entry of purchase and sale with VAT input and output it will automatically calculate Total value of VAT payable to govt .
ReplyDeleteI think this article need updated
sir i using tally 7.2
ReplyDeletebut my company diffrate vat class
tally 7.2 how create new vat class
exp- cst @ 4%
cst @ 3%
vat @ 2%
ohter taxes
please inform how create vat class
my mail vinaytiwari85@gmail.com
thanking you
vinay
Can anyone tell me how to round off vat automatically calculated and levied while invoiceing in tally 9. as the amount comes in paise, but i want it to be rounded off to nearby rupee automatically.
ReplyDeletehi,
ReplyDeleteI worked in Tally7.2.
I just want to refresh the tally package, Can anyone tel me whr I can get the data?
sir i using tally. ERP 9
ReplyDeletebut my company diffrate vat class
tally ERP-9 how create new vat class
exp- cst @ 4%
cst @ 3%
vat @ 3% & 13.5%
ohter taxes
please inform how create vat class
my mail swarupdas85@gmail.com
thanking you
sir
ReplyDeleteiam from gujarat
iam confuse abt ledger creation of outside gujarat purchase under CST 2% ACTUALLY I WANT TO KNOW HOW TO LEDGER CREATE OF CST 2%?
Sir i am using tally 9.2 version.
ReplyDeleteWe are into battery sales and services.
we file vat every month before 17th. This month i am not able to find the Vat form which comes below the Vat computations.
So i am not able to take the printouts. I think some one has changed the configeration as the total Vat form is disappeared.So
pls guide me about this
stans you need to upgrade perhaps it would cure all your maladies.
ReplyDeleteHello sir,
ReplyDeletei am from Nepal and we have different types of vat rates which doesn't match the default vat rates as provided according to the Indian States, so can you help me to create or alter the vat classification as per my requirement.
Please do mail me. Awaiting your reply.
Email: getmelock@hotmail.com
Tally doesn't support Nepal's statutory requirements.
ReplyDeleteYou can create manual ledgers and accordingly do accounting.
I want starting entry all my expenses of home like personal, school fee, all type of home expenses in to tally. but which expenses entry into which form... please guidance me...
ReplyDeletemy email ID is lalji_gajjar@yahoo.co.in
hello,
ReplyDeleteFrom 1st april 2010,the karnataka vat rates are changing from 4% to 5%.
so can i know has the vat classification implemented in tally.
HI SIR.
ReplyDeleteI M USING TALLY ERP 9,WILL U PLEASE TELL ME HOW TO MANGE TWO ITEMS WITH DIFFERENT VAT IN A SINGLE INVOICE. I M FROM PUNJAB HERE VAT IS 13.75%AND 5.5%
AND ALSO HOW TO ROUND OF FIGURE IN TALLY 9.THANKS PLZ MAIL IT TO maaambaytraders@yahoo.com
thanks
We are using Tally 7.2 version (c) Tally Solutions Pvt. Ltd. 1998-2005 ies 7.2 Release 1. I have created vat 5% but i can't understand how to create the same in the Vat / Tax Class. Kindly give the soloution for the same. Very urgent.
ReplyDeleteRespected sir,
ReplyDeleteI want to know that how can i maintain vat 13.5% in tally 7.2.
Thanking you
Jayabrata
I dont see any actual tutorials for tally on the site . Lots of talk of tutorials but where are they ?
ReplyDeleteThis comment has been removed by the author.
ReplyDeletesir i using tally 7.2
ReplyDeletebut my company diffrate vat class
tally 7.2 how create new vat class
exp-
vat @ 13.5%
vat @ 5%
ohter taxes
please inform how create vat class
my mail pkumarpsharma@gmail.com
thanking you
Param kumar
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Its been very informative, thanks for your kind help
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