Q Base : CST : Enabling CST and Creating Master Ledgers' @ Tally.ERP 9

'Enabling CST and Creating Master Ledgers'@ Tally.ERP 9

Central Sales Tax integrated in Tally.ERP 9 takes care of your inter-state transactions. It elimi- nates error-proneinformation and comments on appropriate forms to be issued/ received at the end of the month or a financial year or at any point of time. It takes a one-time configuration in Tally.ERP 9 for Central Sales Tax features to be activated.  Company Setup Create a new company - Oriental Traders to understand the CST Feature of Tally.ERP 9. Oriental Traders is a registered dealer under the CST Act and is one of the leading all India dis- tributors of industrial powder paints. It purchases various shades of powder paints from Unique Paints (P) Ltd. Margao, Goa and supplies to registered dealers outside the State on submission of the prescribed formats.  ‡                    Enter the details in the Company Creation screen as shown below ‡        Press Y or Enter to accept the company creation screen. Central Sales Tax (CST) ‡                    Enable VAT, by activating Enable Value Added Tax (VAT) and Set/Alter VAT details in the F11: Features(Statutory and Taxation Features). Once VAT is enabled, Statutory Masters related to VAT and CST are also automatically loaded in Tally.ERP 9 Creating Masters i. Purchases and Sales Ledgers Ledger Under Inventoryvalues are affected Used inVATreturns VAT/Tax Class CST Sales Sales Accounts Yes Yes Inter-State Sales CST Purchases Purchase Accounts Yes Yes Inter-State Purchase ii. Party Ledgers Ledger Under Maintain balances bill-by-bill Inventory values are affected Sunrise Industries Sundry Debtors Yes No Unique Paints (P) Ltd. Sundry Creditors Yes No iii. Output CST Ledger Ledger Under Type of Duty/Tax VAT/Tax Class Inventoryvalues are affected Percentageof calcula- tion Method of calculation CST @ 4% Duties and taxes CST Inter-State Sales No 4 On Total Sales iv. Input CST ledger Ledger Under Inventoryvalues are affected Used in VAT Returns VAT/Tax Class Input CST Purchase accounts Yes Yes Not applicable V. Stock Items Name of Item Under Units of measure Black Matt Primary Kgs Golden Yellow Primary Kgs Metallic Blue Primary Kgs