How to enter Vat, CST and Excise in Tally 7.2

Using tally 7.2 ? and confusing where to seek help ?

First of all, I would like to advice you to upgrade to Tally.Erp 9 if you are really keen to account your business in  a professional way with more accuracy, speedy to keep pace with the latest statutory compliance. click here learn how to accounting perfectly for vat, excise and cst in tally.erp 9

If you like tally.erp 9 then you can download the latest version of tally.erp 9 by clicking here

Normally, I do not provide support and guidance for tally 7.2 but considering  a huge request from tally 7.2 users, today, I am giving some tricks and tips for tally 7.2

If you want to enjoy auto calculation of Excise, Vat, CST, Discount etc then first of all, you need to configure your tally as given below:

Go to main menu of tally  and Press F12

Now, select Invoice/Order Entry

Set “ use of Excise format to “ Yes

and at the other options

Set “Calculate tax on current sub-total “ to  Yes

Press CTRL + A to accept the screen

Now open a  new ledger for duties i.e.

Excise, Vat ,Cst etc and if you already have opened it then alter it as given below :

For creating Excise, Cess and SHE select the duty type as others from the drop down menu

Set Inventories value affected as No

& of calculation 8 for excise duty, 2% for Cess and 1 % for SHE (rates prevailing as on the date of posting this article

Select method of calculation as on total sales for excise duty, Additional duty for Cess and and SHE

Now accept the screen by pressing Ctrl +A

on the same way, either create a new account for input vat or modify the same

Select Vat as duty type from the drop down menu

select vat class as input vat @4% from the sub screen

Set inventories values are affected as NO

rate of calculation and method of calculation will come automatically

Now accept the screen

on the same way you can create cst @ 2% on purchase ledger or can modify the existing ledger

just select CST as duty type

vat tax class as interstate sales

% of calculation  as @ and method of calculation on total sales

And its all Done.

Now, while posting a purchase bill Select item invoice

and when you will select an item of purchase, just type rate and quantity and then select excise duty and press enter, the duty will automatically captured by the system

Then select other duty type, i.e. Cess, SHE vat or CST etc and it will be automatically calculated

press enter until you finish the voucher or ctrl +A to accept the screen

If you face any problem, do not hesitate to ask me via comment  or sending a mail to me.

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