Type search words and press enter
Seamless e-invoicing is now at your fingertips. Check out our self-help videos.
https://help.tallysolutions.com/docs/te9rel49/Value_Added_Tax/Regular_VAT/Enabling_Regular_VAT_in_Tally.htm

Enabling VAT in Tally.ERP 9

 

To enable VAT in Tally.ERP 9,

Go to Gateway of Tally > F11: Features> F3: Statutory & Taxation

  1. In the Statutory & Taxation Features,

  2. Set Enable Value Added Tax (VAT) to Yes

  3. Enable Set/Alter VAT Details

  1. Press Enter to view the Company VAT Details screen

Note: The procedure for providing the appropriate details in respective fields of Company VAT Details screen is given with respect to Karnataka State. You can select the required state from the List of States displayed to import the state-specific statutory masters.

  1. In the Company VAT Details screen, specify the VAT Details and return form specific Additional Information.

  2. Under VAT Details section:

  • Select the State as Karnataka

  • Select the Type of Dealer as applicable based on the type of registration made by the dealer's with the VAT Department. In this section, the procedure pertaining to Regular dealer is being explained. Hence, select the Type of Dealer as Regular

  • Enter the date from which the VAT provisions are applicable for the dealer in the Regular VAT Applicable From field

  • Under Additional Information section:

  • LVO/VSO Code: Enter the Local VAT Office / Local Sub-VAT Office code in this field.

  • Authorised Person: Enter the Name of the person authorised to sign the return form.

  • Status/Designation: Enter the status/designation of the authorised person in this field.  

  • Place: Enter the name of Place where the return is being filed.

Press Enter to save the details and return to the Company Operations Alterations screen.

The details entered in the additional information fields will be captured in the Report Generation screen of return forms and annexures.

In the Report Generation screen of Return Forms and Annexures, the details in the fields - Authorised Person, Status/Designation and Place can be changed as per requirement. On exiting the screen, the temporarily modified details will not be saved. Every time the report is generated, the information entered in the Company VAT Details screen of F3: Statutory & Taxation Features will be displayed.

Note: In the Regular VAT Applicable From field, the date as entered in the Books beginning from field, of the Company Creation screen will be displayed by default. In case where the dealer's date of registration is different from the Books beginning date, the same needs to be entered in this field.

The procedure for providing the appropriate details in respective fields of Company VAT Details screen is given with respect to Karnataka State. The dealer can select the required state from the List of States displayed to import the state-specific statutory masters.

  1. A brief description on the fields pertaining to Tax Information that appears in this screen is given below.

  2. VAT TIN (Composition): This field will be skipped on selecting the Type of Dealer as Regular. The VAT TIN can be entered in this field only when the Type of Dealer is selected as Composite.

  3. VAT TIN (Regular): Enter the Tax Identification Number (TIN) in this field. The TIN is 11 digit number.

  4. Local Sales Tax Number: This field will be skipped on selecting the Type of Dealer as Regular. This number will be provided only for dealer who does not posses a VAT/TIN.  

  5. Inter-State Sales Tax Number: Enter the Inter-State Sales Tax Number

  6. PAN/Income - Tax No.: Enter the Permanent Account Number in this field. The PAN is a 10 digit alphanumeric number.

Note: The detailed explanation on the procedure of enabling VAT, recording transactions and making the adjustment entries as per the state-specific statutory requirements can be obtained in the Statutory Reference Manual. The same can be downloaded by clicking on the Download button in our website www.tallysolutions.com

 

Mail this article