Printing and Generating Returns (Karnataka)

1. General Information:

1.1 LVO/VSO CODE:

Displays the LVO/VSO Code entered under Additional Information section in Company VAT Details screen of Statutory & Taxation features.

1.2 Tax Period (Month/Quarter):

Displays the Month or Quarter is with the year depending on the From and To dates entered in the Form VAT 100 report.

1.3 Type of Return:

Displays the Type of Return selected in Karnataka VAT Return 100 Printing screen.

1.4 Date of filing return:

Displays the date of filing entered in the Date field of Karnataka VAT Return 100 Printing screen.

1.5 TIN:

Displays the TIN entered in the Company VAT Details screen of Statutory & Taxation features.

1.6 Full Name of the Dealer:

Displays the Mailing Name entered in the Company Creation screen.

1.7 Address of the dealer:

Displays the Address entered in the Company Creation screen.

1.8 Tax invoices issued in a month*:

Displays the first number and last number of the tax invoices.

PARTICULARS OF TURNOVERS - Local

2. Total Turnover

Displays the total turnover of sales made within the state.

2.1 Ret., disc., lab. chg. etc rel.  to sales of the month

Displays the values entered in the following transactions:

●     Credit Note recorded with Nature of Transaction - Sales Taxable and Sales - Works Contract by selecting Not Applicable as the Nature of Return in the Statutory Details screen of the invoice.

●     Discount value entered for discount ledger in sales invoice recorded with Nature of Transaction - Sales - Works Contract.

●     Deduction value of sales recorded with Nature of Transaction - Sales - Works Contract.

2.1.1 Sales returns of prev. six month (rel. tax value may be entered at 4.6.1)

Displays the value of credit note recorded with Nature of Transaction - Sales Taxable and Sales - Works Contract by selecting Not Applicable as the Nature of Return in the Statutory Details screen of the invoice.

2.2 Const. Sales/C.A. Sales

Displays the value of sales recorded using the Nature of Transaction - Branch Transfer Outward and Consignment Transfer Outward.

2.3 Tax Coll. (VAT)

Displays the tax amount entered in sales invoice and credit note using the Nature of Transaction - Sales Taxable and Sales - Works Contract.

2.4 Exempted Sales

Displays the value of sales recorded using the Nature of Transaction - Sales Exempt.

2.5 PCA turnover/Others

This field is currently left blank.

2.6 Taxable TO (Local)

Displays auto calculated value.

PARTICULARS OF TURNOVERS - Interstate/Exports/Imports/ Consignment

3. Total Turnover

Displays the values of sales recorded using the following Nature of Transactions:

●     Exports (Net assessable value)

●     Interstate Branch Transfer Outward (Net assessable value)

●     Interstate Consignment Transfer Outward (Net assessable value)

●     Interstate Deemed Export (Net assessable value)

●     Interstate Labour Charges Collected (Net assessable value)

●     Interstate Sales - Against Form C (Gross assessable value + gross tax value)

●     Interstate Sales - E2 (Net assessable value)

●     Interstate Sales Exempt (Net assessable value)

●     Interstate Sales Exempt - E1 (Net assessable value)

●     Interstate Sales - Taxable (Gross assessable value + gross tax value)

●     Interstate Sales - Works Contract (Gross assessable value + gross tax value + deduction value)

●     Sales High Seas (Net assessable value)

●     Sales - Others (Net assessable value)

●     Sales Zero Rated (Net assessable value)

●     Interstate Sales Exempt - With Form C (Net assessable value)

3.1 Ret., disc., lab.chg, etc

Displays the values entered in the invoice for the following transactions:

●     Credit Note recorded with Nature of Transaction - Interstate Sales - Taxable, Interstate Sales - Against Form C, and Interstate Sales - Works Contract by selecting Not Applicable as the Nature of Return in the Statutory Details screen of the invoice.

●     Sales invoice recorded with Nature of Transaction - Interstate Labour Charges Collected

3.1.1 Sales return of prev. six month (rel. tax value may be entered at 4.6.1)

Displays the value of credit note recorded with Nature of Transaction - Interstate Sales - Taxable, Interstate Sales - Against Form C, and Interstate Sales - Works Contract  by selecting Not Applicable as the Nature of Return in the Statutory Details screen of the invoice.

3.2 ST/ Cons. Sales

Displays the value of sales made using the Nature of Transaction - Interstate Consignment Transfer Outward and Interstate Branch Transfer Outward.

3.3 Exempted Sales (incl. against I/J Forms)

Displays the value of sales made using the following Nature of Transaction.

●     Interstate Sales Exempt

●     Sales Zero Rated

3.4 Direct Exports

Displays the value of sales recorded using the Nature of Transaction - Exports.

3.5 Deemed Exports (Against H Form)

Displays the value of sales recorded using the Nature of Transaction – Interstate Deemed Export.

3.6 Sales in Transit (E- 1 and E- 2)

Displays the net assessable value of sales recorded with the following Nature of Transactions by selecting the declaration forms in Statutory Details screen of the sales invoice:

●     Interstate Sales - E2

●     Interstate Sales Exempt - E1

●     Interstate Sales Exempt - With Form C

3.7 Sales in the course of import (including High Sea Sales)

Displays the value of sales recorded using the Nature of Transaction - Sales High Seas.

3.8 CST Collected

Displays auto calculated value of CST collected from sales recorded (on Total Turnover of box 3).

3.9 Taxable TO (Interstate)

Displays auto calculated value.

4. Net Tax Payable

4.1 Output Tax Payable (Refer box No. 8.3)

Displays the Output Tax payable as per box 8.3.

4.2 B/f Credit of input tax of previous month (refer Box 4.10)

Displays the balance of input tax credit brought forward from previous month/quarter as per box 4.10.

4.3 Input tax credit (Refer Box No.11)

Displays the balance of input tax credit as per box 11.

4.4 Tax Payable [Box No. 4.1-(Box No. 4.2 + Box No. 4.3)]

Displays auto-calculated value.

4.5 Tax deducted at source/Tax paid by SCA (Certificate/s Enclosed)

Displays the value of journal voucher recorded using J: Stat Adjustment button by selecting:

●     Decrease of Output Tax as the Nature of Adjustment.

●     TDS Adjustment in Additional Details option.

Debit: Tax Payable (grouped under Duties & Taxes with Type of Duty/Tax as Others).

Credit: Tax Deducted at Source (grouped under Current Assets).

4.6 Tax already paid in the original returns

Displays the value of entry recorded by selecting the Payment Type as Regular in Stat Payment Details sub-screen of payment voucher.

4.6.1 Tax relating to sales returns of previous 6 months/return of stock transfers, others

The tax value of credit note recorded with Nature of Transaction - Sales - Taxable by selecting Not Applicable as the Nature of Return in the Statutory Details screen of the invoice.

4.6.2 - Reversible input tax (non-deductible input tax of previous purchase u/s. 14,17,etc/purchases returns,etc)

Displays the VAT amount from purchase returns recorded in the current quarter against purchase invoices from within six months preceding the reporting period. VAT amount is the value of the VAT duty ledger in the debit note recorded for purchase returns, with Nature of transaction set as Purchase – Taxable.

4.7 Balance Tax Payable (Box No. 4.4 – Box No. 4.5 – Box No. 4.6 – Box No 4.6.1 + Box No 4.6.2)

The amount is auto-calculated and displayed here.

4.8 Adjustment of any excess Credit towards KST/ KTEG / KSTECG

Displays the value of journal voucher recorded using J: Stat Adjustment button by selecting:

●     Reversal of Input Tax as the Nature of Adjustment.

●     Entry Tax in Additional Details option.

Debit: Entry Tax Payable (grouped under Duties & Taxes with Type of Duty/Tax as Others)

Credit: Input VAT ledger (grouped under Duties & Taxes with Type of Duty/Tax as VAT).

Credit value entered for input VAT ledger is displayed here.

4.9 Refund** Yes/No

Displays the value of journal voucher recorded using J: Stat Adjustment button by selecting Reversal of Input Tax as the Nature of Adjustment.

Debit: Refund Claim (grouped under Current Asset).

Credit: Input VAT ledger (grouped under Duties & Taxes with Type of Duty/Tax as VAT).

4.10 Credit / Excess Payment Carried Forward

Displays the value of journal voucher using J: Stat Adjustment button by selecting:

●     Decrease of Output Tax as the Nature of Adjustment.

●     Tax Paid in Excess in Additional Details option.

Debit: Input VAT ledger (grouped under Duties & Taxes with Type of Duty/Tax as VAT).

Credit: VAT Payable (grouped under Current Liabilities)

4.11 Net Tax refund as per Incentive notification

Displays the value of journal voucher recorded using J: Stat Adjustment button by selecting:

●     Decrease of Output Tax as the Nature of Adjustment.

●     Tax Deferred in Additional Details option.

Debit: Output VAT (grouped under Duties & Taxes with Type of Duty/Tax as VAT)

Credit: Tax Deferred ledger (grouped under Current Liabilities)

5. Tax Payment Details

5.1 Tax Payable as per Box No. 4.7

The amount of tax payable as per box 4.7 is displayed here.

5.2 Interest

Displays the value of journal voucher recorded using J: Stat Adjustment button by selecting:

●     Increase of Tax Liability as the Nature of Adjustment.

●     Interest in Additional Details option.

Debit: Interest Expenses (grouped under Indirect Expenses).

Credit: Interest Payable (grouped under Current Liabilities).

5.3 Others

Displays the value of journal voucher recorded using J: Stat Adjustment button by selecting:

●     Increase of Tax Liability as the Nature of Adjustment.

●     Others in Additional Details option.