New VAT Class in Tally

Introduction of VAT/Tax Classifications as per Statutory Requirements As per the finance bill/budget proposals of various State Governments and Notification of Commercial Taxes Department to revise the VAT Rates, new VAT/Tax Classifications have been intro-duced effective from April 1, 2011 to support billing of transactions. The New VAT Class will only be displayed in Tally if you upgrade the software/stat file. If you are using older/unregistered version of Tally, you will not able to use new VAT Class.