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VAT
The document summarizes the key features and capabilities of Tally Solutions' Value Added Tax (VAT) software. The software allows users to accurately calculate VAT, determine VAT liability or refund amounts, and generate VAT and sales tax reports. It also facilitates e-filing of returns by exporting data to templates. The VAT software integrates with the company's accounting and inventory software to meet all statutory reporting requirements.
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VAT
- 1. © Tally SolutionsPvt. Ltd. All Rights Reserved Value Added Tax
- 2. © Tally SolutionsPvt. Ltd. All Rights Reserved 22© Tally Solutions Pvt. Ltd. All Rights Reserved Value Added Tax VAT Purchases (Trading/ Capital goods) Sales (Tax, Retail, MRP) Purchase/ Sale Returns & Additions Classification Based Calculations Avail/ Adjust Input Credit Physical/ E-Returns
- 3. © Tally SolutionsPvt. Ltd. All Rights Reserved 33© Tally Solutions Pvt. Ltd. All Rights Reserved Features of Value Added Tax • Accurate VAT calculation • Determine VAT Liability/Refund • Meets all accounting and statutory norms • Statutory VAT & CST Reports
- 4. © Tally SolutionsPvt. Ltd. All Rights Reserved 44© Tally Solutions Pvt. Ltd. All Rights Reserved 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. © Tally SolutionsPvt. Ltd. All Rights Reserved 55© Tally Solutions Pvt. Ltd. All Rights Reserved 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. © Tally SolutionsPvt. Ltd. All Rights Reserved 66© Tally Solutions Pvt. Ltd. All Rights Reserved Meets all Accounting and Statutory norms • Seamless integration with Accounts & Inventory • Meets all Statutory Requirements of VAT provisions
- 7. © Tally SolutionsPvt. Ltd. All Rights Reserved 77© Tally Solutions Pvt. Ltd. All Rights Reserved 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. © Tally SolutionsPvt. Ltd. All Rights Reserved 88© Tally Solutions Pvt. Ltd. All Rights Reserved 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. © Tally SolutionsPvt. Ltd. All Rights Reserved 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
- 10. © Tally SolutionsPvt. Ltd. All Rights Reserved 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