VAT Computation report displays the summary of Input and Output VAT Classifications, Assessable Value and subsequent Tax calculated on the Assessable Value.
It also calculates the opening Input VAT carried forward if any, and the balance paid/payable.
To view the VAT Computation report
Go to Gateway of Tally > Display > Statutory Reports > VAT Reports > VAT Computation
The Assessable Value is the sum of the total value of goods at which they are purchased and sold. This assessable value is the value on which VAT is calculated.
The total Tax Amount calculated on Assessable value using the respective Tax percentage is the Tax Amount.
In the VAT Computation screen, click on F12: Configure and set Show All VAT Classifications to Yes. The VAT Computation report displays as shown:
To view the VAT Classification vouchers, select any one the VAT Classifications from the VAT Computation report and press Enter.
The VAT Classification Vouchers report is displayed as shown:
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