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Value Added Tax

Value Added Tax. Value Added Tax. Purchases (Trading/ Capital goods). Physical/ E-Returns. Sales (Tax, Retail, MRP). VAT. Purchase / Sale Returns & Additions. Avail/ Adjust Input Credit. Classification Based Calculations. Features of Value Added Tax. Accurate VAT calculation

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Value Added Tax

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  1. Value Added Tax

  2. Value Added Tax Purchases (Trading/ Capital goods) Physical/ E-Returns Sales (Tax, Retail, MRP) VAT Purchase/ Sale Returns & Additions Avail/ Adjust Input Credit Classification Based Calculations

  3. Features of Value Added Tax • Accurate VAT calculation • Determine VAT Liability/Refund • Meets all accounting and statutory norms • Statutory VAT & CST Reports

  4. Accurate VAT Calculation • VAT calculation based on VAT/Tax classifications • Provision to apportion expenses for VAT Calculation • Maintain MRP based entries • Avail ITC on capital goods immediately or in installments • Account for Purchase Tax on Unregistered Dealers’ Purchases

  5. Determine VAT Liability/Refund • Avail Input credit during purchases • Pay advance tax and adjust towards VAT liability/refund • Adjust Input VAT credit against • Output VAT • Central Sales Tax • Automate the offsetting of VAT dues against tax credit • Computation report for VAT liability/refund

  6. Meets all Accounting and Statutory norms • Seamless integration with Accounts & Inventory • Meets all Statutory Requirements of VAT provisions

  7. Statutory VAT and CST Reports • Regular VAT Forms for 32 States/Union Territories • Composite VAT Forms for 21 States/Union Territories • Central Sales Tax Forms for 19 States/Union Territories • Supporting Annexures for VAT/CST Forms

  8. Generation of E-Returns • Facility to generate e-returns for applicable States by exporting data: • Directly in the prescribed format or • To Templates prescribed by Commercial Taxes Department • Procedure of generating e-returns using Template files: • Download Templates from Commercial Taxes Department website • Copy files to Tally.ERP 9 installed folder • Export the data to respective template files • Save the Files and upload as prescribed by the Department

  9. Thank you Tally Solutions Pvt. Ltd. 331 - 336, Raheja Arcade Koramangala Bangalore - 560 095 Tel : +91 (80) 30282559 Fax : +91 (80) 30287329 Email: sales@tallysolutions.com

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