Sales Exempt – Works Contract – Ongoing (VAT)
You can record exempt on-going works contract sales by selecting the nature of transaction Sales Exempt – Works Contract – Ongoing.
This nature of transaction is provided for Maharashtra.
- Gateway of Tally > Vouchers > press F8 (Sales).
Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales). - Press Ctrl+H (Change Mode) to select the required voucher mode (Accounting Invoice, in this case).
- Select the party ledger in the field Party A/c name.
As always, press Alt+C, to create a master on the fly. Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger > press Enter. - Select the sales ledger grouped under Sales Accounts with Nature of transaction set to Sales Exempt – Works Contract – Ongoing.
- Enter the Amount. The sales invoice appears as shown below:
- Accept the screen. As always, you can press Ctrl+A to save.
The value of this transaction gets captured in the relevant fields of state-specific VAT/CST forms and annexures.