Transcript Corp PPT

Value Added Tax in Tally.ERP 9
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Value Added Tax in Tally.ERP 9
Purchases
(Trading/Capital
goods)
Physical &
E-Returns
(State-Specific)
Sales
(Tax/ Retail/ MRP
invoicing)
Value Added Tax
Avail/Adjust
Input credit
Purchase/ Sales Returns & Additions
Classification
Based Calculations
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Features of Value Added Tax
• Accurate VAT calculation
• Determine VAT Liability/Refund
• Meets all accounting and statutory norms
• Statutory VAT & CST Reports
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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
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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
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5
Meets all Accounting and Statutory norms
• Seamless integration with Accounts & Inventory
• Meets all Statutory Requirements of VAT provisions
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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 17 States/Union Territories
• Supporting Annexures for VAT/CST Forms
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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
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8
Thank you
Tally Solutions Pvt. Ltd.
331 - 336, Raheja Arcade
Koramangala
Bangalore - 560 095
Tel : +91 (80) 30282559
Fax : +91 (80) 30287329
Email: [email protected]
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