Value added tax (VAT) in tally prime

value added tax (VAT) in tally prime is a feature that allows you to record, report, and file VAT transactions in an accounting software called tally prime. Some of the steps to enable and use VAT in tally prime are:

• To enable VAT in tally prime, press F11 (Features) and set the option Enable Value Added Tax (VAT) to Yes. Enter the company TIN and Interstate sales tax number. You can also set or alter tax/rate details, define VAT commodity and tax details as masters, and configure other options as per your requirements.
• To view VAT reports in tally prime, press Alt+G (Go To) and enter VAT. Select VAT Forms and choose the required report. You can also go to Gateway of Tally > Display More Reports > Statutory Reports > VAT Reports.
• To record a VAT transaction in tally prime, go to Gateway of Tally > Vouchers > press F8 (Sales) or F9 (Purchase). Enter the details of the party, stock item, quantity, rate, and VAT classification. You can also specify if the item rate is inclusive or exclusive of tax.

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