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Form 10 is the monthly and quarterly VAT return filed by registered dealers in Madhya Pradesh. You can generate this return form along with supporting annexures in Tally.ERP 9. Further, to help you verify the tax details before generating the returns, a report is available to display the tax computation for the return period.
All transactions, whether recorded correctly, incorrectly or inadequately, are captured and categorised in this report. Additionally, the report design allows you to verify, resolve exceptions and finalise the return for filing. You can save the original returns, and in case changes are made in periodic returns after saving, the information can be either overwritten or saved as revised.
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Particulars (Computation details)
Go to Gateway of Tally > Display > Statutory Reports > VAT > VAT Form 10 . The report appears as shown below:
The different sections of the report are:
● Returns Summary
● Particulars (computation details)
● Payment Details
Drill down from any part to display incrementally detailed information at subsequent levels.
This section provides a summary of all transactions recorded in the reporting period. The transactions are further classified based on the presence of VAT details in the vouchers and their effect on the returns and annexures.
● Total number of vouchers for the period : Displays the total number of vouchers recorded in the reporting period. Drill- down from this row to view the Statistics report, which displays the list of voucher types with the corresponding voucher count.
● Included in returns/annexures: Displays count of all vouchers that have requisite information in corresponding masters and transactions to comply with requirements of filing returns. These vouchers will be a part of VAT and/or CST forms, as applicable. Drill down from this row to view the Vouchers included in Returns/Annexures report, which displays a transaction type-wise voucher list with corresponding voucher count.
● Not relevant for returns/annexures : Displays the count of all vouchers which are not part of returns, as VAT and CST details are not provided in these transactions, there will be no implications on forms and annexures. Drill down from this row to view Vouchers not included in Returns/Annexures report, which displays a transaction type-wise voucher list with corresponding voucher count.
● Incomplete/mismatch in information (to be resolved): Displays the count of all vouchers with insufficient VAT related information. These are exceptions that need to be resolved for the vouchers to be included in the returns. These vouchers are not listed under Included in returns/annexures or Not relevant for returns/annexures row. Drill down from this row to view the list of exception types and number of exceptions under each type. These exceptions can be resolved right away, without having to alter vouchers or update masters one by one.
This section displays the transaction values considered in the returns and annexures along with the amount of liability, input credit, adjustments and VAT/CST payable or refundable. The assessable value of sales and purchases, and the tax applicable, if any, are displayed under respective columns for the specific period. Drill down reports are provided for local purchases, interstate purchases, local sales and interstate sales, and VAT adjustments up to the transaction-level.
● Sales : Total sales (local and interstate), which include the assessable value of taxable and exempted sales, and the corresponding tax amount are displayed here. The total local and interstate sales are divided into Taxable and Exempt and are further classified tax rate-wise. The tax rate-wise rows appear in italics only in detailed mode ( F1 : Detailed ).
● Purchases : Total purchase (local and interstate) which include the assessable value of taxable and exempted purchases, and the corresponding tax amount are displayed here. The total local and interstate purchases are divided into Taxable and Exempt and are further classified tax rate-wise. The tax rate-wise rows appear in italics only in detailed mode ( F1 : Detailed ). Additionally, purchase tax liability created on purchase of goods from unregistered dealer is also displayed under Purchase tax liability (not recorded) and Purchase tax liability (as recorded) for each tax rate.
● VAT Payable or Refundable : Aggregate of taxes payable or refundable for a particular period is displayed here. Using this information, the required adjustment entries can be recorded. Excess input tax credit remaining after nullifying the output VAT against the input VAT is displayed as refundable.
● VAT Adjustments : The various types of VAT adjustments recorded can either increase or decrease the liability/input credit. The VAT adjustment entries display only the aggregate value of input and output VAT. Drill down to view the list of VAT adjustment transactions.
● VAT Payable or Refundable after Adjustments : The amount available after considering the adjustment entries recorded against the VAT payable or refundable amount is displayed here.
● CST Payable: The CST payable on interstate sales, after considering the input VAT offset against the CST dues is displayed here.
This option is provided to display break-up to help view the calculations used to arrive at the final value. The final (nett) values for each tax rate are displayed in the report after deducting rejections and adjustments. The assessable value and tax amount for gross value, rejections and adjustments are displayed by enabling this option.
1. Click F12: Configure to display Configuration screen.
2. Enable the option Show break-up of nett values? .
3. Press Ctrl+A to accept.
The rows Gross Value , Returns , and Addition/Deduction are displayed below each tax rate in detailed mode of the report. You can drill down from any row to view the list of vouchers with assessable value and tax amount.
On drill down from Gross Value row, the purchase/sales transaction that are part of gross value are displayed in Voucher Register report. Similarly, to view the purchase return/sales return transactions with assessable value and tax amount deducted from gross value, drill down from Returns row. Further, drill down from Addition/Deduction to view the debit note/credit note transactions recorded for escalation or de-escalation in price. The assessable value and tax amount from these transactions are added to or deducted from gross value to arrive at net value.
N ote: For some states delivered in 5.4, stock item wise report is displayed on drill down. Further, you can use the options provided to view the report ledger wise, commodity wise or voucher wise for these states.
This section contains statistics of all VAT and CST payment vouchers of the current period. Payments made to party, petty expenses, or any statutory payments other than VAT or CST are not displayed here.
Tax Payments (Included): Drill down from this row to view a ll payment vouchers recorded for VAT, CST and other dues like interest and penalty (using the Stat Payment feature), made for annual returns by selecting the entire financial year as statutory payment period in the payment voucher.
Tax Payments (Not Included/Uncertain) : Drill down from this row to view tax payment vouchers with insufficient information.
VAT Paid : Displays the amount of VAT paid in the financial year. Drill down from this row to view the list of payment vouchers recorded by VAT remittance.
CST Paid : Displays the amount of VAT paid in the financial year. Drill down from this row to view the list of payment vouchers recorded by VAT remittance.
Balance VAT Payable : Displays the balance VAT payable for the period.
Balance CST Payable : Displays the balance CST payable for the period.
