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How to configure VAT in Tally.ERP9 above release 5

In Release 5.0 or above tally make lots of changes in their software. In this tutorials, we know about VAT Configuration in TallyERP.9 above release 5. We have a query on our facebook fan page for configuration of vat in Tally.

For resolving this problem, we have to first configure our sales and purchase ledgers.
For example.
A purchase goods from B for Rs. 26250 including vat of Rs. 1250 (@5%), then a normal entry will be passed for this
Cr.     B                                                    26250
Dr.    Purchase  5%             25000

Dr.    Input Vat 5%               1250
In this case we have configure Purchase Ledger with Tax Rate @ 5%. If you already have Purchase Ledger then alter this and select yes as Set / Alter Statutory Details. Following details appear on Screen.

After selecting yes, a new window will appear on your screen for configuring purchase transaction @ 5%. (See below pic)

Select Purchase Taxable, Enter Vat Rate @ 5% and Tax Type Taxable. Now Purchase voucher is fully configured for your vat Computation.
Now we configure Tax Ledger i.e. input vat @ 5%.
If you have already Ledger of input vat then alter the ledger and alter ledger with following configuration:

Now enter purchase voucher with tax ledger and see your computation, all the details @ 5% taxable showing in your computation. For more information please see below video:

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