VAT & NHIL Invoice

The VAT & NHIL invoice needs to be generated from the sales invoice configured to be used as Tax Invoice.

Go to Gateway of Tally > Display > Day Book

Press F2: Period and select the required period. Else press F2: Date and enter the date. Select the tax invoice which needs to be printed in VAT & NHIL Invoice format.

Press Enter to display the tax invoice in Alteration mode.

Click on P: Print button (Alt+P) and select Yes in the Voucher Printing screen to print the invoice

The print preview of the VAT & NHIL invoice displays as shown:

The explanation on VAT & NHIL Invoice is given below:

From: The Mailing Name entered in Company Creation screen is captured here.

Supplier’s TIN: The VAT TIN entered in Company Operations Alterations screen of F3: Statutory & Taxation features is captured here.

Customer’s TIN: The VAT TIN predefined in the party ledger master selected while recording the tax invoice is captured here.

Date of Invoice: The voucher date of the transaction is captured here.

To: The name of party ledger selected in the tax invoice is captured here.

QTY: The quantity of items invoiced along with the unit of measure is captured here.

DESCRIPTION: The names of stock items invoiced is captured here. Also if any additional ledgers are selected, the same will be displayed here.

UNIT PRICE (Excluding VAT & NHIL): The Rate per unit entered against each stock item invoiced in the tax invoice is captured here.

Amount: The value of each stock item, i.e., the quantity multipled by the rate, and the amount entered for the additional ledger selected while invoicing is captured here.

(I) Total Amount (excluding VAT & NHIL): The total of item value and additional ledger amount is captured here.

(II) VAT (12.5%): The output tax computed by using the VAT/Tax class - Output VAT @ 12.5% is captured here.

(III) NHIL (2.5%): The output NHIL computed by using the VAT/Tax class - Output NHIL @ 2.5% is captured here.

(IV) TOTAL VAT + NHIL (II + III): The total of output tax and output NHIL is captured here [box (II) VAT (12.5%) + box (III) NHIL (2.5%).

TOTAL AMOUNT PAYABLE (Including VAT & NHIL)  (I + IV): The invoice value is captured here [box (I) + box (IV)]

Terms of Payment: The Declaration entered in the Sales Invoice Voucher type set with the option - Is Tax Invoice to Yes is captured here.