VAT Purchase Transactions in Tally ERP 9:
Croma Electronics Pvt. Ltd. Purchased CCTV Cameras to Vision Electronics Pvt Ltd, Maharashtra for Rs.13, 650/- and VAT rate is 5%.
Lets pass a VAT Purchase entry:
- Go to Gateway of Tally.
- Go to Accounting Voucher.
- Select Purchase Voucher (Shortcut F9)
- Write Date
- Select party Ledger “Vision Electronics Pvt Ltd”
- Select Sales Ledger “Purchase @ 5 %”
- Select Stock Items, Rate and Qty
- Select Tax Ledger “Input VAT @ 5%”
- Select “New Reference” in references option
- Write narration
- Accept the screen.
- You can check the transaction in that party ledger or Purchase ledger in Reports.
- Your VAT computation report will be also updated as you make transactions.
- Make payment as usual like we have seen in earlier module.