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https://help.tallysolutions.com/docs/te9rel49/Botswana/Taxable_Sales.htm

Taxable Supplies

 

The Value Added Tax is chargeable at the rate of 12% on taxable supplies made to Registered Dealers.

Go to Gateway of Tally > Accounting Vouchers > F8: Sales > Select the Voucher Type as Tax Invoice

In F12: Sales Invoice Configuration, set the options as given below:

  • Use Common Ledger A/c for Item Allocation to Yes as single classification is selected for all stock items.

  • Allow selection of VAT/Tax Class during entry to No as the VAT/Tax class is defined in the ledger master and need not be selected again while invoicing.

Select As Invoice mode (use key combination Ctrl+V if the screen is displayed in voucher mode. The invoice mode will be displayed).

Taxable Supplies without Additional Ledger

In the sales invoice,

  1. Enter the reference in the Ref. field

  2. Select the party ledger in the Party’s A/c Name field.

  3. In the Party Details screen, enter/modify the required details.

  4. Select Sales Ledger grouped under Sales Accounts and predefined with the VAT/Tax class - Sales @ 12%.

  5. The VAT/Tax Class appears as Sales @ 12%.

  6. Select the Name of Item from the List of Items. Enter the Quantity and Rate. The amount is automatically displayed in the Amount field.

  7. Select another stock item, enter the quantity and rate. The amount appears automatically.

  8. Select the output VAT ledger with the VAT/Tax class - Output VAT @ 12% and the value will be automatically calculated.

  9. The field Show Statutory Details will be set to No which can be enabled to view the breakup of assessable value and tax amount.

  1. Press Y or Enter to accept the tax invoice.

Taxable Supplies with Additional Ledger

In the sales invoice,

  1. Enter the reference in the Ref. field.

  2. Select the required party ledger in the Party’s A/c Name field.

  3. In the Party Details screen, enter/modify the required details. The Party Details screen displays as shown:

  1. Select Sales Ledger with the VAT/Tax class - Sales @ 12%.

  2. The VAT/Tax Class appears as Sales @ 12% automatically as it is defined in the ledger master.

  3. Select the Name of Item from the List of Items. Enter the Quantity and Rate. The amount is automatically displayed in the Amount field.

  4. Similarly select the required stock item, enter the Quantity and Rate. The amount is automatically displayed in the Amount field.

  5. Select Packing Charges Ledger (grouped under Direct/Indirect Expenses/Incomes by setting - Used in VAT Returns to No and Use for Assessable Value Calculation to Yes. Select the Method of Calculation as Based on Value).

  6. Select the output VAT ledger with the VAT/Tax class - Output VAT @ 12% and the value will be automatically calculated.

  7. Set the field Show Statutory Details as Yes to view the breakup of assessable value, apportioned additional income and the output VAT for each stock item.

  1. The Statutory Details screen gets displayed. Press F1: Detailed button (Alt+F1) to view the detailed screen as shown:

  1. Accept the Statutory Details screen

  2. Accept the tax invoice.

Press Page Up key to view this tax invoice in alteration mode. Press P: Print button (Alt+P) to print the invoice.

Click on F12: Configure button and set the option - Print VAT Analysis of Items to Yes

Accept the Invoice Print Configuration.

The print preview of Tax Invoice displays as shown:

Note:  The gross assessable value of sales recorded using the VAT/Tax class - Sales @ 12% is captured in Standard Rated Supplies column of box 5. The output VAT entered using the VAT/Tax class - Output VAT @ 12% is captured in Output Tax Due.

 

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