CA. Monica (Accounting/Auditing/Taxation) (82 Points)
15 May 2010
sreenath
(Articled Assistant)
(219 Points)
Replied 15 May 2010
yes i agree with Rohit Kapoor, then you need to Upgrade to Tally ERP
Himansu Sekhar Pati
(CA Final)
(208 Points)
Replied 15 May 2010
Dear Monica
Check the Following
1. In Company alteration mode " Give Yes to Used in Indian Vat "
2. Enter the vouchers in Invoice Mode
3. On Configuration Screen Keep "Yes" on Calculate tax on current sub-total
With Regards
Rahul
(B.Com LL.B ICWA(Finalist))
(62 Points)
Replied 15 May 2010
Mona,
I am agree with Himansu , the option is available in Tally 7.2, but during bill booking the problem of round off occers. So better to calculate manually.
Is you opt the option of tax calculation then u can not change any thing....during bill booking, specially during creditors bill booking.
Regards,
Rahul
CA. Sukhdev Singh
(C.A.)
(111 Points)
Replied 15 May 2010
Besides the steps as narrated by Himanshu , you have to, while creating / altering sales account, choose the vat rate under vat class.
Aishwary Bang
(Manager - Finance)
(44 Points)
Replied 15 May 2010
yaa i agree wid himanshu and sukhdev
CA. Monica
(Accounting/Auditing/Taxation)
(82 Points)
Replied 15 May 2010
Great thanks to all !!! Thanks again !!!
Ranjith
(Prop)
(50 Points)
Replied 16 May 2010
Monica,
If u want to calculate any tax in tally 7.2 you can do that, it might be VAT,Service Tax or Any other tax, necessary changes are as follows:
Go to Ledger Creation
Select Under group as Duties & Taxes
Select type of duty/tax as others ( if the tax percentage you are looking is not there in the standard list, eg: New vat rates like 5% or 13.5%)
on Percentage of Calculation specify the percentage
Save the ledger
while entering sales or purchase details select invoice format so that on selection of the above ledger tax will be calculated automatically
example: See the attachment
Regards,
Ranjith
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
