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Creating VAT Ledgers

Input VAT
To create a Input VAT Ledger,
Go to Gateway of Tally > Accounts Info. > Ledgers > Create
Enter the Name of the Input VAT ledger you wish to create, for e.g., Input VAT @ 4% 1.
Select Duties & Taxes as the group name in the Under field. 2.
Select VAT from the Type of Duty/Tax list in the field Type of Duty/Tax. 3.
Select the requisite VAT/Tax Class, for e.g., Input VAT @ 4% from the VAT/TAX Class list. 4.
Percentage of Calculation and Method of Calculation are updated automatically based on the Type of
Duty/Tax and VAT/Tax Class selected.
5.
For Rounding Method select as Not Applicable 6.
Creating VAT Ledgers http://www.tallysolutions.com/website/CHM/TallyERP9/Dealer_Excise/...
1 of 4 02-Sep-14 11:39
6. Press Enter to Accept to save 6.
Note: It is recommended t o create separate Input VAT ledgers with appropriate VAT classification for
different rat es of VAT. However, Tally.ERP 9 provides you the flexibility t o use a common Input VAT ledger
for different rates, by select ing VAT classification as Not Applicable and allows select ion of required
classification from the list of VAT/Tax Class while recording a transaction.
Output VAT
To create a Output VAT Ledger,
Go to Gateway of Tally > Accounts Info. > Ledgers > Create
Enter the Name of the output VAT ledger you wish to create, for e.g., Output VAT @ 4% 1.
Select Duties & Taxes as the group name in the under field. 2.
Select VAT from the Type of Duty/Tax list in the field Type of Duty/Tax. 3.
Select the requisite VAT/Tax Class, for e.g., Output VAT @ 4% from the VAT/TAX Class list. 4.
Creating VAT Ledgers http://www.tallysolutions.com/website/CHM/TallyERP9/Dealer_Excise/...
2 of 4 02-Sep-14 11:39
Percentage of Calculation and Method of Calculation are updated automatically based on the Type of
Duty/Tax and VAT/Tax Class selected.
5.
Creating VAT Ledgers http://www.tallysolutions.com/website/CHM/TallyERP9/Dealer_Excise/...
3 of 4 02-Sep-14 11:39
Press Enter to Accept to save 6.
Note: It is recommended t o create separate Output VAT ledgers wit h appropriat e VAT classification for
different rat es of VAT. However, Tally.ERP 9 provides you the flexibility t o use a common Out put VAT ledger
for different rates, by select ing VAT classification as Not Applicable and allows select ion of required
classification from the list of VAT/Tax Class while recording a transaction.
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Creating VAT Ledgers http://www.tallysolutions.com/website/CHM/TallyERP9/Dealer_Excise/...
4 of 4 02-Sep-14 11:39