Form 501 is a monthly register that comprises all intra/inter-state sales, along with the returns and additions. It shows all exempt/taxable goods sold, in detail.
Form 501 displays transactions where
● The nature of transaction can be any of the below:
o Interstate Branch Transfer Outward
o Interstate Consignment Transfer Outward
o Interstate Deemed Export
o Interstate Sales - Against Form C
o Interstate Sales - E1
o Interstate Sales - E2
o Interstate Sales Exempt
o Interstate Sales - Taxable
o Exports
o Interstate Sales - Zero Rated
o Sales Exempt
o Sales Taxable
o Branch Transfer Outward
o Consignment Transfer Outward
● Schedules included:
o SCHEDULE II - Part A
o SCHEDULE II - Part B
o SCHEDULE II - Part C
o SCHEDULE II - Part D
o SCHEDULE II - Part E
T o print Form 501
1. Go to Gateway of Tally > Display > Statutory Reports > VAT > Form VAT 200 > Annexures .
2. Select Sales 501 , and press Enter .
3. Press Ctrl+P .
4. Press Enter to print.
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Column name |
Description |
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Name and Address of Dealer |
Displays the dealer company name and address as recorded in the Company Creation screen. |
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TIN |
Displays the VAT TIN of the assessee, as recorded in the TIN field in the Company VAT Details screen in F11: Features > Statutory & Taxation . |
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Sales/ Dispatches to outside the state/country |
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(1)Sl. No. |
Displays the serial number of each sales transaction, invoice-wise in the form. |
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(2)Invoice date |
Displays the invoice date mentioned in the sales transactions. |
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(3).Name & TIN of the Dealer to whom sold / transferred or dispatched otherwise than by way of sale |
Displays the name and VAT TIN of the party from whom the goods are sold or transferred or dispatched, the details are captured from the ledger master or the Party Details screen. |
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4. Value of Inter-State Sales, including sales u/s 3 (b) read with 6(2) of the Act, excluding CST amount Charged |
Displays invoice-wise assessable value from all inter-state sales transactions. It is the value from transactions with Interstate Sales - Taxable , Interstate Sales - Against Form C , Interstate Sales - Zero Rated ( Diplomatic Missions, U.N, UNICEF, WHO & Foreign Aid , and SEZ/STP/EHTP selected as Party Entity/Org. Type ), Interstate Sales - Tax Free , Labour Charges collected (with interstate party), Interstate Sales - E1 , Interstate Sales - E2 , and Interstate Sales Exempt - E1 selected as the Nature of transaction . |
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5.Value of dispatches by way of Stock Transfer or for sale on Consignment basis |
Displays the invoice-wise values of branch transfers and sale on consignments. It is the value from transactions with Interstate Branch Transfer Outward and Interstate Consignment Transfer Outward selected as the Nature of transaction . |
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6.Value of Export of Goods to outside the country and the details thereof |
Displays the invoice-wise export sales transactions. It is the value from transactions with Export and Interstate Deemed Export selected as the Nature of transaction and H Form as Form to issue . |
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7.Amount of CST paid in course of Inter-State Sales |
Displays the CST amount on the taxable inter-state sales. |
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Turnover the Vat Act/Dispatches within the State |
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8. Sl. No |
Displays serial number of transactions based on the number of entries, along with invoice dates. |
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9.Invoice Date |
Displays the invoice date mentioned in the sales and sales returns transactions. |
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10.Name & TIN of the Dealer to whom sold / transferred or dispatched otherwise than by way of sale |
Displays the name and VAT TIN of the party from whom the goods are received on account of sales or transfer or dispatch. the details are captured from the ledger master or the Party Details screen. |
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11.Value of Dispatches of goods to Branches / Head Office / Principle / Agent as the case may be |
Displays the invoice-wise values of branch transfers and sale on consignments. It is the value from transactions with Branch Transfer Outward and Consignment Transfer Outward selected as the Nature of transaction . |
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12.Sale prices of exempted goods listed in Schedule-I of the Act |
Displays the invoice-wise assessable value of schedule - I sales. It is the value from transactions with Sales Exempt selected as the Nature of transaction and SCHEDULE - I selected as the Schedule . |
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13. Sale prices of goods listed in Schedule-II Part-E of the Act excluding the Output Tax charged therein |
Displays the invoice-wise assessable value of schedule - II part-E sales. It is the value from transactions with Sales Taxable selected as the Nature of transaction and SCHEDULE II Part-E selected as the Schedule . |
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14.Sale prices of goods listed in Schedule-II Part-A i.e, taxable @ 1% excluding the Output Tax charged |
Displays the invoice-wise assessable value of schedule - II part-A sales at 1%. It is the value from transactions with Sales Taxable selected as the Nature of transaction and SCHEDULE II Part-A selected as Schedule . |
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15.Sale prices of goods including Sale Price on MRP listed in Schedule-II Part-B i.e, taxable @ 4%, @ 5% excluding the Output Tax charged |
Displays the invoice-wise assessable value of schedule - II part-A sales at 4% and 5%. It is the value from transactions with Sales Taxable selected as the Nature of transaction and SCHEDULE II Part-B selected as Schedule . |
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16. Sale prices of goods listed in Schedule II Part-C i.e taxable @ 4% excluding the Output Tax charged |
Displays the invoice-wise assessable value of schedule - II part-C sales at 4%. It is the value from transactions with Sales Taxable selected as the Nature of transaction and SCHEDULE II Part-C selected as Schedule . |
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17. Sale prices of goods including sale price on MRP listed in Schedule II Part-D i.e, taxable @ 12.5%, @ 10%, @ 14%, 2% excluding the Output Tax charged |
Displays the invoice-wise assessable value of schedule - II part-D sales at 4%. It is the value from transactions with Sales Taxable selected as Nature of transaction and SCHEDULE II Part-D selected as Schedule . |
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18.Sale prices for taxable goods to unregistered dealers / persons excluding the taxes charged therein |
Displays the invoice-wise assessable value of sales made from unregistered dealers. |
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Output Tax charged and payable in the State |
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19. Amount of Output tax charged from unregistered dealers / persons |
Displays the tax amount from sales made to unregistered dealers. |
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20.Amount of Output Tax charged @ 1% |
Displays the output tax amount from sale of Schedule II Part-A goods. |
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21.Amount of Output Tax including tax on MRP charged @ 4%, @ 5% |
Displays the output tax amount from sale of Schedule II Part-B goods. |
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22.Amount of Output Tax charged @ 4% (Industrial Inputs) |
Displays the output tax amount from sale of Schedule II Part-C goods. |
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23.Amount of Output Tax including tax on MRP charged @ 12.5%, @ 10%, @ 14%, 2% |
Displays the output tax amount from sale of Schedule II Part-D goods. |
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(24). Total Amount of Output Tax payable |
Displays the auto calculated sum of all the output tax values collected against Schedule II Part-A,B,C,D. |
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(24).Total of Input Tax paid or payable as per column 24 of Form JVAT 500 |
Displays the auto calculated total input tax shown under column no.24 of Form 500 . |
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(25). Output tax payable: deduct the total amount at 24 from the total amount of 24 in 500 register. |
Displays the auto calculated difference between the total output tax value of Form 501 and total input tax value of Form 500 . |
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Returns/Additions |
Displays the deduction in value due to returns, or additions if any, for each column. |
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Nett Sales |
Displays the nett value after adjusting the nett sales amount with the total of each column. |
