A new option "Allow inclusive of tax for stock Items" has been included in Tally ERP 9 Release 5.0 onwards. This allows you to prepare Sales Invoice with Rate inclusive of VAT.
Tally ERP 9 Release 5.0
1. Go to Stockitem creation/alteration
2. Press F12 [Config]. This displays the Stockitem Configuration screen as shown underneath :
3. Enable "Allow inclusive of tax for stock items" as shown above.
4. Back in the Stockitem screen, enable VAT Applicable and specify the VAT Rate using "Set/alter VAT details"
5. Next, set "Is inclusive of duties and taxes" to Yes
Tally ERP 9 Release 4.92 or lower
1. Go to Stockitem creation/alteration
2. Press F12 [Config]
This displays the Stockitem Configuration screen as shown underneath (without the Inclusive option) :
Remarks:
The "Is inclusive of duties and taxes" is NOT there in Tally ERP 9 Release 4.92
Tally ERP 9 Release 5.0
1. Go to Stockitem creation/alteration
2. Press F12 [Config]. This displays the Stockitem Configuration screen as shown underneath :
Tally ERP 9 Release 5.0 |
3. Enable "Allow inclusive of tax for stock items" as shown above.
4. Back in the Stockitem screen, enable VAT Applicable and specify the VAT Rate using "Set/alter VAT details"
5. Next, set "Is inclusive of duties and taxes" to Yes
Tally ERP 9 Release 5.0 |
Tally ERP 9 Release 4.92 or lower
1. Go to Stockitem creation/alteration
2. Press F12 [Config]
This displays the Stockitem Configuration screen as shown underneath (without the Inclusive option) :
Tally ERP 9 Release 4.92 |
The "Is inclusive of duties and taxes" is NOT there in Tally ERP 9 Release 4.92
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