The ledger for Input VAT is shown below:
Type of Duty/Tax
On the selection of group Duties and Taxes, the list of Tax Types CST, others and VAT, is displayed. Select VAT for VAT related transactions.
Note: If you have VAT and TDS enabled, the list will also include TDS.
VAT/Tax Class
Like in the Purchase and Sales Ledger, this is a drop down list containing the VAT classifications. Select the appropriate classification or select Not Applicable if you wish to select the classifications at the Voucher level.
Percentage of calculation
This field will display the VAT rate that you selected in the VAT/Tax class field.
Method of calculation
This will display On VAT Rate if you have selected VAT under Type of Duty/Tax.
Output VAT
On selection of CST
Type of Duty/Tax
On selection of CST for Type of Duty/Tax, you can select either Inter-State Purchases or Inter-State Sales for Tax Class. Once you select this, you need to manually enter the Percentage of Calculation.
Method of Calculation
Once you enter the Percentage of calculation, select the Type of Duty from the drop down list.