On exporting data to VAT-15 template, the relevant details are displayed in Worksheet 4.
Field Name |
Description |
4A. Goods purchased from exempted units |
|
(a) Total purchases made during the return period |
Displays auto calculated value. |
(b). (i) Less: goods return |
Displays zero in this field. |
(b). (ii) Less : Cash Discount |
Displays zero in this field. |
(c). Less: goods used in manufacturing of tax free 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 Goods Used in Manufacturing - Tax Free Goods (Exempted Unit) for Additional Details. 3. Debit the purchase ledger with Purchase Exempt selected as the nature of transaction. 4. Credit the purchase ledger with Purchase Exempt selected as the nature of transaction. 5. Press Ctrl+A to accept. |
(d) Less: goods exported out of India |
Displays the value of purchases with Exports and Deemed Exports selected as the nature of transaction. |
(e) Less: goods used in branch transfer/ consignment |
Displays the value entered in the field Purchase value if purchase made from Exempted Unit, in Statutory Details screen of purchase invoice for the following nature of transactions: ● Branch Transfer Outward ● Interstate Branch Transfer Outward ● Consignment Transfer Outward ● Interstate Consignment Transfer Outward |
(f) Less: Capital goods |
Displays the assessable value of purchase of capital goods recorded. The purchase ledger must be grouped under Fixed Assets, and predefined with the nature of transaction Purchase Exempt - Capital Goods. |
(g) Less : sales made to other than taxable person |
Displays the amount entered in the field Purchase value (if purchased from exempted units), in VAT Details screen of sales invoice recorded with the following nature of transactions: ● Sales Taxable ● Sales - Tax Free ● Sales Exempt |
(h) Less : goods not eligible for ITC u/s 13(5) |
Displays the assessable value of Non Creditable Purchase - Special Goods. Displays purchases recorded with the purchase ledger predefined with Non Creditable Purchase - Special Goods as the Nature of transaction, with: ● Party Entity/Org. Type set to Exempted Unit in VAT Details screen of purchase ledger. Or ● Type of Exemption set to Exempted Unit in the party ledger. |
(i) Less: any other on which notional ITC not available |
Displays the credit value entered for purchase exempt ledger in journal voucher to reverse the tax credit on other purchases. To reverse tax credit on other purchases 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 Other Purchase Adjustments for Additional Details. 3. Debit the purchase ledger with Purchase Exempt selected as the nature of transaction. 4. Credit the purchase ledger with Purchase Exempt selected as the nature of transaction. 5. Press Ctrl+A to accept. In purchase ledger, select the nature of transaction as Purchase Exempt. |
(j) Net purchases eligible for notional ITC |
Displays auto calculated value. |
4B. Notional Input Tax Credit (For purchase from Exempted units only) |
|
(a) Brought forward from previous return period |
Displays auto calculated value. If opening balance is provided for notional tax ledger, the same is displayed. To create a notional tax ledger 1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create. 2. Enter the Name of the notional tax ledger. 3. Select Duties & Taxes in the Under field. 4. Select Types of duty/tax as VAT. 5. Set the option Use for Notional ITC to Yes. 6. The field Percentage of Calculation displays 4%. Opening balance of notional tax can be entered in the Opening Balance field. 7. Press Ctrl+A to accept. |
(b) Add notional ITC @4% on purchases during period [as per WS-4A(j)] |
Displays auto calculated value. |
(c)Total Notional ITC available |
Displays auto calculated value. |
(d) Less: Notional ITC reversal if no stock of goods |
Displays the credit value entered for notional tax ledger in journal voucher to reverse the tax credit when stock is unavailable. To reverse tax credit when stock is unavailable 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 Notional Input Tax as the Nature of Adjustment. o Select Notional ITC (No Stock) for Additional Details. 3. Debit the purchase ledger. 4. Credit the notional tax ledger (the option Use for Notional ITC should be set to Yes in the ledger grouped under Duties & Taxes). 5. Press Ctrl+A to accept. |
(e) Net Notional ITC available |
Displays auto calculated value. |
4C. Information to be furnished by exempted unit |
|
(a) Entitlement certificate no. |
Displays the Entitlement Certificate No. entered in the Company VAT Details screen. |
(b) Entitlement certificate date (dd/mm/yyyy) |
Displays the Date entered for the Entitlement Certificate No. in the Company VAT Details screen. |
(c) Date of expiry of exemption / deferment (dd/mm/yyyy) |
Displays the Date of Expiry of Exemption/Deferment entered in the Company VAT Details screen. |
(d) Total amount of exemption / deferment allowed |
Displays the Total Amount of Exemption/Deferment allowed entered in the Company VAT Details screen. |
(e) Output liability under |
|
(i) PVAT |
Displays auto calculated value. |
(ii) CST |
Displays auto calculated value. |
(f) Output tax liability on branch transfers/consignment sales |
This field will be currently left blank. |
(g) Total Exemption availed (e)(i) + (e)(ii) + (f) |
Displays auto calculated value. |
(h) (i) Exemption/deferment available at the beginning of the return period (including under CST Act) |
Displays the Opening Balance of Exemption/Deferment Amount entered in Export Report screen of Form 15 report. |
(h) (ii) Exemption/deferment availed during the return period including refunds received |
Displays the Exemption/deferment availed during the return period including refunds received entered in Export Report screen of Form 15 report. |
(h) (iii) Balance at the end of the return period |
Displays auto calculated value. |
'Worksheet 4 - e-VAT Form 15 (Punjab)' has been shared with
