The Form VAT 100 report is designed to provide an overview of the statistics of transactions pertaining to a period. It displays the assessable value and tax amount on purchases and sales, payments made, and the amount of VAT payable/ refundable. The report also displays the count of included transactions that forms a part of VAT annexures. Transactions which have partial information, and require user intervention to provide the details are categorized as uncertain transactions. It is possible to view the drill-down reports till the last level of voucher entry for each section of this report, and get complete information of vouchers categorized 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. The report provides the facility to save the original returns. If any changes are made in transactions, the information can either be overwritten or saved as revised returns. It can be exported in Microsoft Word 97-2003 document format.
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Form VAT 100 can be filed on time with the accurate information available in this report. It contains three main sections:
2. Computation