how to create CST purchase ledger ?
All sales and purchases within the territory of a state are known as local sales/purchases while cross boarder sales – purchase transactions are known asand purchases for which a supplier may require to issue form “C” against the purchases and require to collect form “C” against all such sales
Interstate purchase and sales attract less vat duty as comparing to local vat rates.to know more about CST and various forms under CST Act, 1957
It is mandatory to account all such transactions properly and a list of C forms issuable and C form receivable for all such purchases and sales respectively
tally.erp 9 supports proper accounting of all such interstate transactions and satisfy all requirements due to such cross boarder transactions. however it is possible if you keep certain things in mind and record all transactions properly.
before you go further, create a company if you haven’t crated any company in tally yet !
first you should create purchase against C form ledger Account.Here is a detailed screen shot showing how to create an interstate purchase account
go to accounts info from the main menu and then click ledgers as shown below :
Now create a new ledger
Name it Purchase against form “C”
Select group as purchase
Set used in vat return as yes and select vat-tax class as interstate purchase
set use for assessable value calculation as No
and accept the screen
Now create a supplier a ledger under the group sundry creditors
fill up required details including address, city, pin, state etc
alter vat details and and type of vat dealer as interstate dealer and fill up supplier’s CST number
now accept the screen and its all Done!
NEXT : How to account Purchase vouchers against Form C