https://help.tallysolutions.com/docs/te9rel64/Tax_International/Kenya_VAT/KEN_Computation.htm

Particulars (Computation Details)

T his section displays the transaction values considered in the returns and annexures along with the amount of liability, input credit, adjustments, and VAT 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 which include the assessable value of taxable and exempted sales, and the corresponding tax amount are displayed here. The total local 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 ). To view all the sales transactions,

1. Click F1 : Detailed to display the report in detailed mode.

2. Select any of the rows displayed in italics under Local Sales .

3. Press Enter to display the Voucher Register screen with item-wise sales value for selected VAT rate, as shown below:

You can view this report ledger wise or commodity wise by clicking L : Ledger wise or C : Commodity wise ,  respectively.

Similarly, item-wise sales value for other VAT rate can be viewed by selecting and drilling down on  the respective VAT rate row in the report.

Purchases

Total purchases, which include the assessable value of taxable and exempted purchases, and the corresponding tax amount are displayed here. The total local 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. To view all the purchase transactions,

1. Click F1 : Detailed to display the report in detailed mode.

2. Select any of the rows displayed in italics, under Local Purchases .

3. Press Enter to display the Voucher Register screen with item-wise of purchase value for selected VAT rate, as shown below:

Select an item and press Enter to display the transaction-wise list. You can view this report ledger wise or commodity wise by clicking L : Ledger wise and C : Commodity wise , respectively.

Similarly, item-wise sales value for other VAT rate can be viewed by selecting and drilling down on the respective VAT rate row in the report.

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. The list of VAT adjustment vouchers appears as shown below:

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.

Show break-up of nett values

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.

To view break-up of nett value

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.