On saving the returns as modified, or as is, you can print and generate the returns for upload into the department portal.
To view the Annual Return Form I-1
1. Go to Gateway of Tally > Display > Statutory Reports > VAT > VAT Form I > VAT Form I -1
2. Press Ctrl+P to print.
The Printing screen will appear as shown below:
3. Enter Name, Status/Designation, Place and Date.
4. Press Enter to generate the print preview of Form I-1.
The explanation on Form I - 1 is given below:
The Mailing Name and Address as entered in the Company Creation screen is captured here.
The information entered in Assessment Circle field of Company VAT Details screen (Statutory & Taxation) or Company VAT Details setup (Quick Setup - VAT) is captured here.
The VAT TIN (Regular) entered in Company VAT Details screen of Statutory & Taxation Features or Company VAT Details Setup screen of Quick Setup wizard is captured here.
The period entered in the Print Report screen of Form I - 1 is captured here.
The assessable value of taxable purchases made using the VAT/Tax class - Purchases @ 1% is captured in Purchase turnover Value inside the state during the year (Rs.) column. The input VAT paid on the purchases using the VAT/Tax class - Input VAT @ 1% is displayed in VAT Paid column.
The assessable value of taxable purchases made using the VAT/Tax class - Purchases @ 2% is captured in Purchase turnover Value inside the state during the year (Rs.) column. The input VAT paid on the purchases using the VAT/Tax class - Input VAT @ 2% is displayed in VAT Paid column.
The assessable value of taxable purchases made using the VAT/Tax class - Purchases @ 4% and Purchases @ 4% (JobWork) is captured in Purchase turnover Value inside the state during the year (Rs.) column. The input VAT paid on the purchases using the VAT/Tax class - Input VAT @ 4% and Input VAT @ 4% - (JobWork) is displayed in VAT Paid column.
The assessable value of taxable purchases made using the VAT/Tax class - Purchases @ 5% and Purchases @ 5% (JobWork) is captured in Purchase turnover Value inside the state during the year (Rs.) column. The input VAT paid on the purchases using the VAT/Tax class - Input VAT @ 5% and Input VAT @ 5% - (JobWork) is displayed in VAT Paid column.
The assessable value of taxable purchases made using the VAT/Tax class - Purchases @ 12.5% is captured in Purchase turnover Value inside the state during the year (Rs.) column. The input VAT paid on the purchases using the VAT/Tax class - Input VAT @ 12.5% is displayed in VAT Paid column.
The assessable value of taxable purchases made using the VAT/Tax class - Purchases @ 14.5% is captured in Purchase turnover Value inside the state during the year (Rs.) column. The input VAT paid on the purchases using the VAT/Tax class - Input VAT @ 14.5% is displayed in VAT Paid column.
The total assessable value of taxable purchases captured in box (a) + (a1) + (b) + (b1) + (c) + (c1) is displayed here.
The assessable value of purchases made using Purchases - Exempt as the VAT/Tax class is captured here.
The assessable value of capital goods purchased using the VAT/Tax class - Purchases Capital Goods @ 4% and Purchases Capital Goods @ 5% is captured here.
The tax paid on purchase of capital goods using the tax ledger grouped under Duties & Taxes with VAT/Tax class - Purchases Capital Goods @ 4% and Purchases Capital Goods @ 5% is captured here.
The total VAT paid as per box 1(A) + 1(B) is captured here.
The assessable value of taxable sales made using the VAT/Tax class - Sales @ 1% is captured in Sales turnover Value inside the state column. The output VAT collected on the sales using the VAT/Tax class - Output VAT @ 1% is displayed in VAT Collected column.
The assessable value of taxable sales made using the VAT/Tax class - Sales @ 2% is captured in Sales turnover Value inside the state column. The output VAT collected on the sales using the VAT/Tax class - Output VAT @ 2% is displayed in VAT Collected column.
The assessable value of taxable sales made using the VAT/Tax class - Sales @ 4% and Sales - Works Contract @ 4% is captured in Sales turnover Value inside the state column. The output VAT collected on the sales using the VAT/Tax class - Output VAT @ 4% and Output VAT - Works Contract @ 4% is displayed in VAT Collected column.
The assessable value of taxable sales made using the VAT/Tax class - Sales @ 5% and Sales - Works Contract @ 5% is captured in Sales turnover Value inside the state column. The output VAT collected on the sales using the VAT/Tax class - Output VAT @ 5% and Output VAT - Works Contract @ 5% is displayed in VAT Collected column.
The assessable value of taxable sales made using the VAT/Tax class - Sales @ 12.5% is captured in Sales turnover Value inside the state column. The output VAT collected on the sales using the VAT/Tax class - Output VAT @ 12.5% is displayed in VAT Collected column.
The assessable value of taxable sales made using the VAT/Tax class - Sales @ 14.5% is captured in Sales turnover Value inside the state column. The output VAT collected on the sales using the VAT/Tax class - Output VAT @ 14.5% is displayed in VAT Collected column.
The total of assessable value and output VAT amount of taxable sales captured in box (a) + (a1) + (b) + (b1) + (c) + (c1) is displayed here.
The value of sales returns recorded in credit note by selecting Goods Sold Returned in the Used for field is captured here. The assessable value and tax amount are displayed in Sales turnover Value inside the state (Rs.) and VAT Collected columns respectively.
The total of assessable value and tax amount of taxable sales returns is captured here.
The value of sales made using Exports and Sales - Zero Rated as the VAT/Tax class is captured here.
The value of journal entry made by selecting Advance Tax Paid in the Used for field is captured here.
In the journal voucher select Advance Tax Paid as the VAT Adjustment in the Used for field
Debit: Output VAT ledger (grouped under Duties & Taxes with the required output VAT classification)
Credit: Advance Tax ledger (grouped under Current Assets)
The value of journal entry made by selecting Adjustment Towards Entry Tax Paid in the Used for field is captured here.
In journal voucher, select Adjustment Towards Entry Tax Paid as the VAT Adjustment in the Used for field
Debit: Output VAT ledger (grouped under Duties & Taxes with the required output VAT classification)
Credit: Entry Tax ledger (grouped under Current Assets)
The total value of adjustment towards advance tax and entry tax [box (1+2)] is captured here.
The value of sales made using Sales - Exempt as the VAT/Tax class is captured here.
The value of sales returns recorded in credit note for exempt sales by selecting Goods Sold Returned in the Used for field is captured here. The assessable value and tax amount are displayed in Sales turnover Value inside the state (Rs.) column.
The net value of exempted sales and sales returns is captured here.
The total of input VAT amount is captured here.
The assessable value and tax amount captured in box C and D respectively for all sales made are captured here.
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