Form VAT R1 is the quarterly VAT return form to be filed by registered VAT dealer.
It provides an overview of the statistics of transactions pertaining to the quarter. It displays the assessable value and tax amount of purchases and sales, payments made, and the amount of VAT payable/ refundable.
The report also displays the count of included transactions that form a part of VAT annexure.
Transactions which have partial information, and requires your intervention to provide the details are categorised as uncertain transactions.
Drill-down reports till the last level of voucher entry are provided for each section of this report with complete information of vouchers categorised under it.
With the intuitive feature of exception handling provided in this report, the exceptions can be solved to generate the returns to be filed for a particular period.
● Go to Gateway of Tally > Display > Statutory Reports > VAT > select Form VAT R1
Form VAT R1 has three main sections:
2. Computation