Uncertain transactions in VAT Report

Note: This post is applicable to users of Tally ERP 9 Release 5.0 and higher only


To resolve the issue "Uncertain transactions" in VAT Report, you must set the following fields in Ledgers Masters:

1. Fields to be set for Sales and Purchase Ledgers

  1. Is VAT/CST Applicable : Applicable
  2. Set/Alter VAT Details : Yes 
    • Nature of Transaction : <SelectAsRequired>
    • TaxRate : <SetValueAsRequired>
    • Additional Tax : <SetValueAsRequired>


2. Fields to be set for VAT and CST Ledgers

  1. Type of duty/tax : VAT or CST
  2. Percentage of calculation : <SetValueAsRequired>


3. Fields to be set for Additional Tax Ledgers

  1. Type of duty/tax : Additional Tax
  2. Percentage of calculation : <SetValueAsRequired>


STEP BY STEP INSTRUCTIONS 

  1. Start Tally and open your Company.
  2. Next, go to "Gateway of Tally >> Accounts Info >> Ledger >> Alter"
  3. Next, select the Sales Ledger : Example : Sales @  5%
  4. Next, select the following :
    Is VAT/CST Applicable : Applicable
    Set/Alter VATDetails : Yes

  5. Next, set the options :
    Nature of Transaction : Example : Sales Taxable
  6. Next, set the Tax Rate : Example : 5
  7. Repeat the steps for all other Sales and Purchase ledgers and specify appropriate values for point 5 and 6.