GCC VAT - Create Stock Item for GCC VAT in Tally ERP 9
Go to Gateway of Tally - Inventory Info. - Stock Items - Alter - select the item.
2. Select the Taxability of the item.
o Taxable - for goods and services that are classified as taxable
o Exempt - for goods and services that are exempted from tax
o Zero Rated - for goods and services that have 0% tax
3. Specify the Tax rate.
Note: If you have modified the tax rates before, press Alt + L to view the history of tax rate changes.
4. Select the Type of supply. For stock items, Type of supply is set to Goods by default.
5. Press Ctrl + A to save.
The type of supply selected for a stock item is applicable only for that item.
You can record sales of stock items and print tax invoices.