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 till the transaction-level.
Total sales (local and interstate) which include the assessable value of taxable and exempted sales, and the corresponding tax amount are displayed here.
Click F1: Detailed to display the report in detailed mode.
Total value of all sales recorded by selecting the:
● State as Gujarat and Nature of Transactions provided for sales within the state are categorised as Local Sales.
● State other than Gujarat and Nature of Transactions provided for sales outside the state are categorised as Inter State Sales.
To view all the sales transactions
1. Select any of the rows displayed in italics, under Local Sales or Interstate Sales.
2. Press Enter.
Voucher Register screen appears with the list of transactions. As additional tax is involved, the columns Addl. Tax Amount and Total Tax Amount (total of VAT and additional tax) are also displayed. The value of journal voucher recorded by selecting Decrease in Sales as the Nature of Adjustment appears in a separate row.
Total purchases (local and interstate) which include the assessable value of taxable and exempt purchases, and the corresponding tax amount are displayed here.
Total value of all purchases recorded by selecting the:
● State as Gujarat and Nature of Transactions provided for purchases within the state are categorised as Local Purchases.
● State other than Gujarat and Nature of Transactions provided for purchases from outside the state are categorised as Interstate Purchases.
To view all the purchase transactions
1. Select any of the rows displayed in italics, under Local Purchases or Interstate Purchases.
2. Press Enter.
Voucher Register screen appears with the list of transactions. As additional tax is involved, the columns Addl. Tax Amount and Total Tax Amount (total of VAT and additional tax) are also displayed.
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, appears as refundable.
The various types of VAT adjustments done can either increase or decrease the liability/input credit. The VAT adjustment entries display only the aggregate value of input and output VAT.
The amount available after considering the adjustment entries recorded against the VAT payable or refundable amount is displayed here.
The CST payable on interstate sales, after considering the input VAT offset against the CST dues is displayed here.
'Computation - Form 201 (Gujarat)' has been shared with
