As per the e-filing requirements of the local purchase and sales annexures, the negative value entered for expenses separately charged in the invoice (discount, freight, rounded-off amount, and so on) on which VAT is not applicable, should not be displayed in the annexures.
Record a purchase invoice with the following details:
● Purchase ledger with any nature of transaction.
● Additional expense ledger, which is separately charged (in which the option Include in assessable value calculation for is set to Not Applicable ) with a negative value .
The purchase invoice appears as shown below:
The annexure template does not allow negative values in the column Other Charges . Hence, the negative value entered for additional ledger in the invoice was deducted from the assessable value, and displayed in the column Net Value , as shown below:
As per the clarification received on the annexures from the commercial taxes department of Karnataka, the negative value of the separately charged additional ledger, on which VAT is not applicable, does not impact the annexures. Hence, it is:
● Not captured in the column Other Charges .
● Not deducted from the assessable value in the column Net Value .
In the annexure, only the assessable value is displayed in the column Net Value , as shown below:
'Negative values entered for expenses are not captured in purchase and sales annexures. Why? (Karnataka)' has been shared with
