Telangana

• The name of the state in VAT Form 200 did not change when a different  state was selected at the VAT Details screen, resolved: While changing the state from Andhra Pradesh to Telangana in F11: Features> F3: Statutory & Taxation, the state displayed in VAT Form 200 did not change.

  Now, VAT Form 200 displays the state name as per the selection made in the VAT Details screen from F11: F3 Statutory & Taxation.

• A provision is made to calculate the eligible VAT Input Tax Credit: In the Form VAT 200, you can now view the eligible VAT Input Tax Credit amount under the column ITC Claimed(B)in Rs/-.

  In Form VAT 200, the eligible input tax credit is calculated by applying the formula A x B/ C.

  Where,

  1. 1. • A is the total amount of input tax for common inputs for each tax rate. This excludes the tax paid on the purchase of goods considered as ineligible by the rule.

        • B is the sales turnover of taxable goods including zero-rated sales.

        • C is the total turnover including sales of exempt goods.

• VAT Return Form VAT 213 supported: You can now generate VAT return Form VAT 213.

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