Annexure VII captures the details of the goods lost due to theft or damage or any reason.
To view Annexure VII
1. Go to Gateway of Tally > Display > Statutory Reports > VAT > Form VAT 201 > Annexure Ready .
2. Press Enter .
3. Select Annexure VII .
4. Press Enter .
T o export Annexure VII
1. Copy the required excel template to the Tally.ERP 9 installation folder.
2. G o to Gateway of Tally > Display > Statutory Reports > VAT > Form VAT 201 > Annexure Ready .
3. Select Annexure VII , and press Enter .
4. Press Ctrl+E to view the Export Report screen .
5. Press Enter to export.
A brief explanation about the annexure fields is given below:
|
Conditions/Situations |
Value of goods purchased (in Rs.) * |
VAT paid (in Rs.) |
|
1. Goods purchased for any of the purpose specified under sub-section (3) of Section 20 of the Act but are subsequently used otherwise |
Displays the assessable value entered in the journal voucher for reversing input tax on sales, excluding interstate sales . To record reversal of input tax 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal . 2. Click J : Stat Adjustment . 3. Select VAT as the Type of Duty/ Tax . 4. Select Reversal of Input Tax as the Nature of adjustment . 5. Select Reverse Credit on Goods Sold Other Than Interstate Sales as the Additional Details . 6. Debit the expense ledger. 7. Credit VAT ledger. 8. Press Ctrl+A to accept. |
Displays the credit value of the VAT ledger. |
|
2. Goods purchased are lost due to theft, damage or for any other reason |
Displays the assessable value entered in the journal voucher for reversing input tax on damaged or lost goods . To record reversal of input tax 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal . 2. Click J : Stat Adjustment . 3. Select VAT as the Type of Duty/ Tax . 4. Select Reversal of Input Tax as the Nature of adjustment . 5. Select Goods Damaged / Lost as the Additional Details . 6. Debit the expense ledger. 7. Credit VAT ledger. 8. Press Ctrl+A to accept. |
Displays the credit value of the VAT ledger. |
|
3. Goods purchased but remained unsold at the time of closure of business |
Displays the assessable value entered in the journal voucher for reversing input tax on goods unsold at the time of business closure . To record reversal of input tax 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal . 2. Click J : Stat Adjustment . 3. Select VAT as the Type of Duty/ Tax . 4. Select Reversal of Input Tax as the Nature of adjustment . 5. Select Goods Unsold at the Time of Business Closure as the Additional Details . 6. Debit the expense ledger. 7. Credit VAT ledger. 8. Press Ctrl+A to accept. |
Displays the credit value of the VAT ledger. |
|
4. Goods purchased but remain unutilized or unsold on the date on which the exercise of option for composition of tax under this Act, is allowed |
Displays the assessable value entered in the journal voucher for reversing input tax on To record reversal of input tax 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal . 2. Click J : Stat Adjustment . 3. Select VAT as the Type of Duty/ Tax . 4. Select Reversal of Input Tax as the Nature of adjustment . 5. Select Switch Over as the Additional Details . 6. Debit the expense ledger. 7. Credit VAT ledger. 8. Press Ctrl+A to accept. |
Displays the credit value of the VAT ledger. |
|
5. Goods purchased but remain unutilized or unsold on the date on which the exercise of option for composition of tax under this Act, is allowed |
Displays the assessable value entered in the journal voucher for reversing input tax on goods unsold as per Section 16 . To record reversal of input tax 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal . 2. Click J : Stat Adjustment . 3. Select VAT as the Type of Duty/ Tax . 4. Select Reversal of Input Tax as the Nature of adjustment . 5. Select Goods Unsold As Per Section 16 as the Additional Details . 6. Debit the expense ledger. 7. Credit VAT ledger. 8. Press Ctrl+A to accept. |
Displays the credit value of the VAT ledger. |
|
6. Goods purchased are utilized in manufacture of goods exempted from tax |
Displays the assessable value entered in the journal voucher for reversing input tax on manufacturing of goods exempted from tax . To record reversal of input tax 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal . 2. Click J : Stat Adjustment . 3. Select VAT as the Type of Duty/ Tax . 4. Select Reversal of Input Tax as the Nature of adjustment . 5. Select Manufacturing of Exempt Goods as the Additional Details . 6. Debit the expense ledger. 7. Credit VAT ledger. 8. Press Ctrl+A to accept. |
Displays the credit value of the VAT ledger. |
|
7. Goods purchased are exempted from levy of tax subsequently** |
Displays the assessable value entered in the journal voucher for reversing input tax on goods exempted from tax . To record reversal of input tax 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal . 2. Click J : Stat Adjustment . 3. Select VAT as the Type of Duty/ Tax . 4. Select Reversal of Input Tax as the Nature of adjustment . 5. Select Exempted Goods as the Additional Details . 6. Debit the expense ledger. 7. Credit VAT ledger. 8. Press Ctrl+A to accept. |
Displays the credit value of the VAT ledger. |
|
8. Total |
Displays auto calculated value. |
Displays auto calculated value. |
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