You can generate and print Form VAT III. This topic explains the fields in the form.
To print Form III
1. Go to Gateway of Tally > Display > Statutory Reports > VAT > Form III. The Form III report appears.
2. Press Ctrl+P to display the Print Report screen. Based on the Form III report period, the From and To dates are displayed here. These dates can be changed from Form III report, if required.
3. Enter the Name and Status/Designation of authorised person.
4. Enter the Place and Date.
5. Press Enter to export data.
The data gets exported to the e-return template.
Field Name |
Description |
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Return of Sales and of Tax payable for the period from and To |
Displays the period of Form III report. |
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(1) TIN |
Displays the TIN entered in the Company VAT Details screen of Statutory & Taxation features. |
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Valid Upto |
Displays the date entered for TIN - Valid Upto field in Company VAT Details screen of Statutory & Taxation features. |
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(2) Name of the dealer |
Displays the Mailing Name entered in the Company Creation screen. |
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(3) Address of the dealer |
Displays the Address entered in the Company Creation screen. |
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(4)A. Total turnover of sale received/receivable in respect of goods sold including value of goods transferred out of state otherwise than by way of sale (Details as per annexure A) |
Displays: ● Gross assessable value of local and interstate taxable sales. Displays the gross assessable value of sales recorded with the following nature of transactions: ● Sales - Taxable ● Sales - Works Contract ● Interstate Sales - Taxable ● Interstate Sales - Against Form C ● Interstate Sales - E1 ● Interstate Sales - Works contract ● Net assessable value of all exempt sales. Displays the net assessable value of sales recorded with the following nature of transactions: ● Deemed Export ● Sales High Seas ● Exports ● Branch Transfer Outward ● Consignment Transfer Outward ● Sales Zero Rated ● Sales Exempt ● Interstate Branch Transfer Outward ● Interstate Consignment Transfer Outward ● Interstate Sales Exempt - E1 ● Interstate Sales - E2 ● Interstate Sales - Zero Rated ● Interstate Sales Exempt ● Interstate Deemed Export ● Interstate Sales Exempt - With Form C |
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(4)B(1) Sales of exempted goods under rule 4(1)(b) |
Displays the net assessable value of sales with Sales Exempt selected as the nature of transaction. |
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(4)B(2) Sale on which no tax is leviable under rule 4(1)(a) |
Displays the net assessable value of sales with Sales Zero Rated selected as the nature of transaction. |
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(4)B(3) Sales in the course of inter-state trade under rule 4(1)(c) |
Displays the gross assessable value of interstate sales. Displays the gross assessable value of sales recorded with the following nature of transactions: ● Interstate Sales - Against Form C ● Interstate Sales - E1 ● Interstate Sales - E2 ● Interstate Sales - Taxable ● Interstate Sales - Zero Rated ● Interstate Sales Exempt ● Interstate Sales Exempt - E1 ● Interstate Sales - Works Contract ● Interstate Sales Exempt - With Form C |
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(4)B(4) Sales in the course of import into or export out of India under rule 4(1)(c) |
Displays the net assessable value of sales with Exports, Sales High Seas, Deemed Export and Interstate Deemed Export selected as the nature of transaction. |
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(4)B(5) Value of goods transferred or dispatched out of the state otherwise than by way of sales. (stock transferred) under rule 4(1)(e) |
Displays the net value of sales with Interstate Branch Transfer Outward and Interstate Consignment Transfer Outward selected as the nature of transaction. |
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(4)B(6) Value of goods sent for sale to local agents under rule 4(1)(f). |
Displays the net value of sales with Branch Transfer Outward and Consignment Transfer Outward selected as the nature of transaction. |
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(4)B(7) The amount of sale of goods returned within the prescribed time i.e. six months under rule 4(1)(d) |
Displays the value of credit note with Sales - Works contract and Sales Taxable selected as the nature of transaction. Displays sales returns recorded within six months from the original invoice date. |
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(4)B(8) Sum allowed as cash discount in the bill/tax invoice if it is included in the above sale under section 2(ad). |
Displays the value entered for discount ledger in sales, with Sales - Works contract and Sales Taxable selected as the nature of transaction. In the discount ledger grouped under expense or income, the option Type of Ledger? must be set to Discount. |
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(4)B. Total of (1) to (8) |
Displays auto calculated value. |
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(4)C. Taxable Turnover of sales (A-B) |
Displays auto calculated value. |
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(5) A. Rate wise bifurcation of sales and output tax |
Value |
Tax |
(5)A.1. Sales taxable @ 1% |
Displays net assessable value of sales taxable at 1%. Displays the assessable value of sales recorded with: ● Sales Taxable as the nature of transaction ● Stock item or sales ledger predefined with 1% tax rate. |
Displays the tax amount of sales taxable at 1%. Displays the amount entered for VAT ledger for sales recorded with: ● Sales Taxable as the nature of transaction ● Stock item or sales ledger predefined with 1% tax rate. |
(5)A.2. Sales taxable @ 5% |
Displays net assessable value of sales taxable at 5%. Displays the assessable value of sales recorded with: ● Sales Taxable as the nature of transaction ● Stock item or sales ledger predefined with 5% tax rate. |
Displays the tax amount of sales taxable at 5%. Displays the amount entered for VAT ledger for sales recorded with: ● Sales Taxable as the nature of transaction ● Stock item or sales ledger predefined with 5% tax rate. |
(5)A.3. Sales taxable @ 12.5% |
Displays net assessable value of sales taxable at 12.5%. Displays the assessable value of sales recorded with: ● Sales Taxable as the nature of transaction ● Stock item or sales ledger predefined with 12.5% tax rate. |
Displays the tax amount of sales taxable at 12.5%. Displays the amount entered for VAT ledger for sales recorded with: ● Sales Taxable as the nature of transaction ● Stock item or sales ledger predefined with 12.5% tax rate. |
(5)A.4. Sale of goods specified in schedule 'C' (give rate wise) |
Displays net assessable value of sales taxable at any other rate. Displays the assessable value of sales recorded with: ● Sales Taxable as the nature of transaction ● Stock item or sales ledger predefined with any tax rate other than 1%, 5% and 12.5%. |
Displays the tax amount of sales taxable at any other rate. Displays the amount entered for VAT ledger for sales recorded with: ● Sales Taxable as the nature of transaction ● Stock item or sales ledger predefined with any tax rate other than 1%, 5% and 12.5%. |
(5)(B) Total |
Displays auto calculated value. |
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(5)C. Sale of capital goods and industrial inputs claimed under entry (23) and (53) respe. of Schedule ‘B’ and included in taxable @ 5% sales shown above. |
Capital Goods |
Industrial inputs |
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Displays the value of sales with: ● Sales Taxable selected as the nature of transaction. ● Sales ledger or stock items, which are predefined with the following settings: o Tax rate is set to 5%. o Schedule is selected as Schedule B. o Type of goods is selected as Capital Goods. |
Displays the value of sales with: ● Sales Taxable selected as the nature of transaction. ● Sales ledger or stock items, which are predefined with the following settings: o Tax rate is set to 5%. o Schedule is selected as Schedule B. o Type of goods is selected as Industrial inputs. |
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(6) Turnover of purchases |
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6(i) Imports from out of India |
Displays the net assessable value of purchases with Imports selected as the nature of transaction. |
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6(ii) Interstate purchases |
Displays the net value of purchases recorded with the following nature of transactions in the Taxable column based on the tax rate: ● Interstate Purchase - Against Form C ● Interstate Purchase - Taxable ● Interstate Purchase - E1 Displays the net value of purchases recorded with the following nature of transactions in the Exempted column based on the tax rate: ● Interstate Purchase Exempt ● Interstate Purchase Exempt - With Form C ● Interstate Purchase Exempt - E1 ● Interstate Purchase - E2 ● Interstate Purchase - Zero Rated ● Interstate Purchase Deemed Export |
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6(iii) Consignment transfers |
Displays the net assessable value of purchases with Branch Transfer Inward, Interstate Branch Transfer Outward, Interstate Consignment Transfer Outward and Consignment Transfer Inward selected as the nature of transaction in the Exempted column. |
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6(iv) Local purchases from registered dealers: |
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a) Against tax invoices |
Displays the gross assessable value of purchases recorded by setting the option Purchase Against Restricted Tax Invoice? to No, in Statutory Details screen of purchase invoice for the following nature of transactions in the Taxable column based on the tax rate: ● Purchase - Works contract ● Purchase Taxable ● Purchase Taxable - Capital Goods |
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b) Against restricted tax invoice |
Displays the net assessable value of purchases recorded by setting the option Purchase Against Restricted Tax Invoice? to Yes, in Statutory Details screen of purchase invoice. Displays the net assessable value of purchases recorded with the following nature of transactions in the Taxable column based on the tax rate: ● Purchase - Works Contract ● Purchase - Capital Goods ● Purchase Taxable Displays the net assessable value of purchases recorded with the following nature of transactions in the Exempted column: ● Purchase - Zero Rated ● Purchase Exempt ● Purchase Deemed Export |
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6(v) Local purchase from composition dealers and unregistered dealers |
Displays the net assessable value of purchases with Purchase From Composition Dealer and Purchase From Unregistered Dealer selected as the nature of transaction. The consolidated value of such purchases are displayed in Exempted column. |
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6(vi) Others |
Displays the net assessable value of purchases with Purchases - Others, Non Creditable Purchase - Special Goods, Purchase - Zero Rated, Purchase Exempt, and Purchase Deemed Export selected as the nature of transaction. The value is displayed in Exempted column. |
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Total turnover of purchases |
Displays auto calculated value. |
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(7) Input Tax Credit |
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(7)(a) Total admissible input tax on purchases covered under item 6(iv) above |
Displays auto calculated value. |
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7(b)(i) Add: ITC admissible on account of opening stock held on appointed date/date of registration |
Displays the debit value entered for VAT ledger in journal voucher for input tax on opening stock. To account for increase in input tax 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Increasing Input Tax as the Nature of Adjustment. o Select Opening Stock for Additional Details. 3. Debit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. 4. Credit the ledger grouped under Current Assets. 5. Press Ctrl+A to save. |
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7(b)(ii) Add: ITC admissible on capital goods |
Displays the debit value entered for VAT ledger in journal voucher for input tax on capital goods. To account for each installment of input tax on capital goods 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Input Tax Credit Admitted On Capital Goods as the Nature of Adjustment. 3. Debit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. 4. Credit the ledger grouped under Current Assets. 5. Press Ctrl+A to save. |
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7(b)(iii) Add: ITC carried over from previous tax period |
Displays auto calculated value. |
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7(b)(iv) Entry tax paid, if any (photocopy of challans to be enclosed) |
Displays the debit value of VAT entered in journal voucher recorded for entry tax adjustment. To adjust the entry tax against input VAT 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Increasing Input Tax as the Nature of Adjustment. o Select Entry Tax Paid for Additional Details. 3. Debit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. 4. Credit the ledger grouped under Current Assets. 5. Press Ctrl+A to save. |
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7(b)(v) 75% of net tax liability under the Net Present Value Compulsory Payment Scheme 2005 |
Displays the debit value of VAT entered in journal voucher recorded for compulsory payment scheme. To account for compulsory payment scheme 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Increasing Input Tax as the Nature of Adjustment. o Select ITC on Net Present Value Scheme for Additional Details. 3. Debit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. 4. Credit the ledger grouped under Current Assets. 5. Press Ctrl+A to save. |
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7. Total of b(1) to b(5) |
Displays auto calculated value. |
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7. Total ITC of 7(a) & (b) |
Displays auto calculated value. |
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7(c) Reverse credit on account of |
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(i) Goods (purchases) returned within the prescribed time |
Displays the value of debit note recorded with Purchase - Works contract, Purchase Taxable - Capital Goods and Purchase Taxable selected as the nature of transaction. Displays the purchase returns recorded within six months, from the original invoice date. |
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(ii) On stock transfer (5%)-Section 6(3) |
Displays the credit value entered for VAT ledger in journal voucher to reverse the tax credit on stock transfer. To record reverse credit on stock transfer 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Reversal of Input Tax as the Nature of Adjustment. o Select Stock Transfer for Additional Details. 3. Debit the purchase ledger. 4. Credit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. 5. Press Ctrl+A to save. |
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(iii) Apportionment for manufacturing of exempt goods |
Displays the credit value entered for VAT ledger in journal voucher to reverse the tax credit on manufacture of exempt goods. To reverse tax credit on manufacture of exempt goods 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Reversal of Input Tax as the Nature of Adjustment. o Select Manufacturing of Exempt Goods for Additional Details. 3. Debit the purchase ledger. 4. Credit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. 5. Press Ctrl+A to save. |
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(iv) Any of the contingencies covered under sub-section (2), (3) & (5) & 6 of Section 9 |
Displays the credit value entered for VAT ledger in journal voucher to reverse the tax credit on contingencies. To reverse tax credit on contingencies 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Reversal of Input Tax as the Nature of Adjustment. o Select Contingencies Covered U/S 9 Sub Sec 2, 3, 5 & 6 for Additional Details. 3. Debit the purchase ledger. 4. Credit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. 5. Press Ctrl+A to save. |
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(v) Others ( Please Specify) |
Displays the credit value entered for VAT ledger in journal voucher to reverse the tax credit on any other transactions. To reverse tax credit on any other transactions 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Reversal of Input Tax as the Nature of Adjustment. o Select Others for Additional Details. 3. Debit the purchase ledger. 4. Credit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. 5. Press Ctrl+A to save. |
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Total reduction [C(i) to C(v)] |
Displays auto calculated value. |
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(8) Total input tax credit [7 (a) & 7(b)-7(c)] |
Displays auto calculated value. |
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(9) Amount of tax payable/refundable/Carried forward (5B-8) |
Displays auto calculated value, if the amount is payable or carried forward. Displays the credit value entered for VAT ledger in journal voucher to account for VAT refund. To account for VAT refund 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Refund of Input Tax as the Nature of Adjustment. 3. Debit the ledger grouped under Current Assets. 4. Credit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. 5. Press Ctrl+A to save. |
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(10) Outstanding liability to be setoff against excess ITC, if any, under |
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(i) Goa VAT Act |
Displays the credit value entered for VAT ledger in journal voucher to account for VAT liability. To account for VAT liability 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Decrease of Input Tax as the Nature of Adjustment. o Select Set Off Against Excess ITC Under Goa VAT Act for Additional Details. 3. Debit the expense ledger. 4. Credit the input VAT ledger. 5. Enter the tax Rate and Assessable Value in VAT Details screen. 6. Press Ctrl+A to accept. |
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(ii) Goa Sales Tax Act |
Displays the credit value entered for VAT ledger in journal voucher to account for sales tax liability. To account for sales tax liability 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Decrease of Input Tax as the Nature of Adjustment. o Select Set Off Against Excess ITC Under Goa Sales Tax Act for Additional Details. 3. Debit the expense ledger. 4. Credit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. 5. Press Ctrl+A to save. |
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(iii) Goa Tax on Entry of Goods Act |
Displays the credit value entered for VAT ledger in journal voucher to account for entry tax. To account for entry tax 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Decrease of Input Tax as the Nature of Adjustment. o Select Set Off Against Excess ITC Under Goa Tax on Entry of Goods Act for Additional Details. 3. Debit the expense ledger. 4. Credit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. 5. Press Ctrl+A to save. |
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(iv) Central Sales Tax Act |
Displays the credit value entered for VAT ledger in journal voucher to account for CST dues. To account for CST dues 1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal. 2. Click J: Stat Adjustment. o Select VAT as the Type of duty/tax. o Select Decrease of Input Tax as the Nature of Adjustment. o Select Against CST for Additional Details. 3. Debit the CST ledger. 4. Credit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. 5. Press Ctrl+A to save. |
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Total |
Displays auto calculated value. |
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(11) Net amount of tax refundable/carried forward (9-10) |
Displays auto calculated value. |
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(12) No. and date of receipted challans under which payment are made and TDS Certificates attached to this return in proof of payment |
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A. No. and date of Challan |
Displays the challan number and date entered for the VAT payment voucher in Tax Payment Reconciliation screen. |
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B. No. and date of TDS Certificates ( Form VAT VII) |
This field is left blank. |
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(13) Details of Bank account (only the changes in the Bank Account if any, during the return period to be reported) |
This field is left blank. |
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Declaration |
Displays the name, place, and date are displayed as provided in the Print Report screen of Form III. |
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Last updated for Release 5.5.3
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