Kerala

• Net Taxable Value and Total column was not displaying values in Form No. 8, resolved: When a sales transaction was passed for a taxable item and an item exempted from tax, the columns Net Taxable Value and Total did not print values for the item exempted from tax in Form No. 8.

  Now, Net Taxable Value and Total columns print value for item exempted from tax.

• A provision is made to view individual item rate in the Tax column of Form 8: The VAT rate amount applied on each item recorded in a sales invoice now appears individually in Form 8 under the column Tax.

  The total VAT amount for the items in the transactions appears in the bottom of the same column.

• Consignee's TIN and CST were being printed instead of the buyer's TIN and CST in the tax invoice Form 8 format, resolved: When a sales transaction was recorded as a tax invoice with separate buyer and consignee names, and printed in Form 8 format, the consignee's TIN and CST were being printed in place of the buyer's.

  Now, the buyer's TIN and CST are printed when a tax invoice in Form 8 format is printed.

• A provision is made to specify new VAT rates for works contract at 7%: Now, the new VAT rates for works contract at 7% VAT for input VAT, output VAT, purchases and sales are supported.

• The currency symbol was not being printed in the Total amount column in the tax invoice Form 8 format, resolved: In a multi-currency company, when a tax invoice in Form 8 format was printed, the currency symbol was not being printed for the total invoice amount in numbers.  

  Now, for a company using multiple currencies, the currency symbol is printed for the total invoice amount in numbers for a tax invoice in Form 8 format.

• A provision is made to specify new VAT rate for tobacco products at 30% for purchases, sales, input VAT and output VAT.

• A provision is made to capture contact numbers of the seller and buyer in Form 8, and not print TIN, if not specified, in Form 8B: Now, when printing a tax invoice in Form 8 format, contact numbers of the seller and buyer will be printed. When printing a sales invoice in Form 8B format, TIN will not be printed, if not specified.

• A provision is made to specify new VAT rate for diesel.

• A provision is made to add mobile number while creating ledger for VAT invoice: You can now specify the mobile number of party during ledger creation for capturing in VAT invoice.

• VAT Form 8 did not capture the correct gross value in column 10, resolved: Column 10 in VAT Form 8 was not capturing the gross value with the excise amount.

  Now, VAT Form 8 displays the gross value in column 10 correctly.

• A provision is made to capture excise duty amount in VAT - Form 8 invoice in column 9 along with values for education cess and secondary education cess.

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