You can generate and print Form VAT III. This topic explains the fields in the form.
To print Form III
1. Go to Gateway of Tally > Display > Statutory Reports > VAT > Form III. The Form III report appears.
2. Press Ctrl+P to display the Print Report screen. Based on the Form III report period, the From and To dates are displayed here. These dates can be changed from Form III report, if required.
3. Enter the Name and Status/Designation of authorised person.
4. Enter the Place and Date.
5. Press Enter to export data.
The data gets exported to the e-return template.
Field Name |
Description |
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Return of Sales and of Tax payable for the period from and To |
Displays the period of Form III report. |
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(1) TIN |
Displays the TIN entered in the Company VAT Details screen of Statutory & Taxation features. |
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Valid Upto |
Displays the date entered for TIN - Valid Upto field in Company VAT Details screen of Statutory & Taxation features. |
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(2) Name of the dealer |
Displays the Mailing Name entered in the Company Creation screen. |
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(3) Address of the dealer |
Displays the Address entered in the Company Creation screen. |
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(4)A. Total turnover of sale received/receivable in respect of goods sold including value of goods transferred out of state otherwise than by way of sale (Details as per annexure A) |
Displays: ● Gross assessable value of local and interstate taxable sales. |
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(4)B(1) Sales of exempted goods under rule 4(1)(b) |
Displays the net assessable value of sales with Sales Exempt selected as the nature of transaction. |
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(4)B(2) Sale on which no tax is leviable under rule 4(1)(a) |
Displays the net assessable value of sales with Sales Zero Rated selected as the nature of transaction. |
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(4)B(3) Sales in the course of inter-state trade under rule 4(1)(c) |
Displays the gross assessable value of interstate sales. |
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(4)B(4) Sales in the course of import into or export out of India under rule 4(1)(c) |
Displays the net assessable value of sales with Exports, Sales High Seas, Deemed Export and Interstate Deemed Export selected as the nature of transaction. |
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(4)B(5) Value of goods transferred or dispatched out of the state otherwise than by way of sales. (stock transferred) under rule 4(1)(e) |
Displays the net value of sales with Interstate Branch Transfer Outward and Interstate Consignment Transfer Outward selected as the nature of transaction. |
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(4)B(6) Value of goods sent for sale to local agents under rule 4(1)(f). |
Displays the net value of sales with Branch Transfer Outward and Consignment Transfer Outward selected as the nature of transaction. |
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(4)B(7) The amount of sale of goods returned within the prescribed time i.e. six months under rule 4(1)(d) |
Displays the value of credit note with Sales - Works contract and Sales Taxable selected as the nature of transaction. Displays sales returns recorded within six months from the original invoice date. |
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(4)B(8) Sum allowed as cash discount in the bill/tax invoice if it is included in the above sale under section 2(ad). |
Displays the value entered for discount ledger in sales, with Sales - Works contract and Sales Taxable selected as the nature of transaction. |
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(4)B. Total of (1) to (8) |
Displays auto calculated value. |
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(4)C. Taxable Turnover of sales (A-B) |
Displays auto calculated value. |
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(5) A. Rate wise bifurcation of sales and output tax |
Value |
Tax |
(5)A.1. Sales taxable @ 1% |
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(5)A.2. Sales taxable @ 5% |
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(5)A.3. Sales taxable @ 12.5% |
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(5)A.4. Sale of goods specified in schedule 'C' (give rate wise) |
Displays net assessable value of sales taxable at any other rate. |
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(5)(B) Total |
Displays auto calculated value. |
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(5)C. Sale of capital goods and industrial inputs claimed under entry (23) and (53) respe. of Schedule ‘B’ and included in taxable @ 5% sales shown above. |
Capital Goods |
Industrial inputs |
Displays the value of sales with: ● Sales Taxable selected as the nature of transaction. ● Sales ledger or stock items, which are predefined with the following settings: o Tax rate is set to 5%. o Schedule is selected as Schedule B. o Type of goods is selected as Capital Goods. |
Displays the value of sales with: ● Sales Taxable selected as the nature of transaction. ● Sales ledger or stock items, which are predefined with the following settings: o Tax rate is set to 5%. o Schedule is selected as Schedule B. o Type of goods is selected as Industrial inputs. |
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(6) Turnover of purchases |
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6(i) Imports from out of India |
Displays the net assessable value of purchases with Imports selected as the nature of transaction. |
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6(ii) Interstate purchases |
Displays the net assessable value of interstate purchases. |
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6(iii) Consignment transfers |
Displays the net assessable value of purchases with Branch Transfer Inward and Consignment Transfer Inward selected as the nature of transaction. |
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6(iv) Local purchases from registered dealers: |
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a) Against tax invoices |
Displays the following details of purchases recorded by setting the option Purchase Against Restricted Tax Invoice? to No, in Statutory Details screen of purchase invoice: ● Gross assessable value of taxable purchases in Taxable column. ● Net assessable value of exempt purchases in Exempted column. |
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b) Against restricted tax invoice |
Displays the net assessable value of taxable and exempt purchases, recorded by setting the option Purchase Against Restricted Tax Invoice? to Yes, in Statutory Details screen of purchase invoice. |
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6(v) Local purchase from composition dealers and unregistered dealers |
Displays the net assessable value of purchases with Purchase From Composition Dealer and Purchase From Unregistered Dealer selected as the nature of transaction. The consolidated value of such purchases are displayed in Exempted column. |
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6(vi) Others |
Displays the net assessable value of purchases with Purchases - Others selected as the nature of transaction. The value is displayed in Exempted column. |
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Total turnover of purchases |
Displays auto calculated value. |
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(7) Input Tax Credit |
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(7)(a) Total admissible input tax on purchases covered under item 6(iv) above |
Displays auto calculated value. |
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7(b)(i) Add: ITC admissible on account of opening stock held on appointed date/date of registration |
Displays the debit value entered for VAT ledger in journal voucher for input tax on opening stock. |
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7(b)(ii) Add: ITC admissible on capital goods |
Displays the debit value entered for VAT ledger in journal voucher for input tax on capital goods. |
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7(b)(iii) Add: ITC carried over from previous tax period |
Displays auto calculated value. |
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7(b)(iv) Entry tax paid, if any (photocopy of challans to be enclosed) |
Displays the debit value of VAT entered in journal voucher recorded for entry tax adjustment. |
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7(b)(v) 75% of net tax liability under the Net Present Value Compulsory Payment Scheme 2005 |
Displays the debit value of VAT entered in journal voucher recorded for compulsory payment scheme. |
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7. Total of b(1) to b(5) |
Displays auto calculated value. |
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7. Total ITC of 7(a) & (b) |
Displays auto calculated value. |
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7(c) Reverse credit on account of |
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(i) Goods (purchases) returned within the prescribed time |
Displays the value of debit note recorded with Purchase - Works contract, Purchase Taxable - Capital Goods and Purchase Taxable selected as the nature of transaction. Displays the purchase returns recorded within six months, from the original invoice date. |
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(ii) On stock transfer (5%)-Section 6(3) |
Displays the credit value entered for VAT ledger in journal voucher to reverse the tax credit on stock transfer. |
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(iii) Apportionment for manufacturing of exempt goods |
Displays the credit value entered for VAT ledger in journal voucher to reverse the tax credit on manufacture of exempt goods. |
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(iv) Any of the contingencies covered under sub-section (2), (3) & (5) & 6 of Section 9 |
Displays the credit value entered for VAT ledger in journal voucher to reverse the tax credit on contingencies. |
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(v) Others ( Please Specify) |
Displays the credit value entered for VAT ledger in journal voucher to reverse the tax credit on any other transactions. |
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Total reduction [C(i) to C(v)] |
Displays auto calculated value. |
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(8) Total input tax credit [7 (a) & 7(b)-7(c)] |
Displays auto calculated value. |
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(9) Amount of tax payable/refundable/Carried forward (5B-8) |
Displays auto calculated value, if the amount is payable or carried forward. Displays the credit value entered for VAT ledger in journal voucher to account for VAT refund. |
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(10) Outstanding liability to be setoff against excess ITC, if any, under |
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(i) Goa VAT Act |
Displays the credit value entered for VAT ledger in journal voucher to account for VAT liability. |
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(ii) Goa Sales Tax Act |
Displays the credit value entered for VAT ledger in journal voucher to account for sales tax liability. |
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(iii) Goa Tax on Entry of Goods Act |
Displays the credit value entered for VAT ledger in journal voucher to account for entry tax. |
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(iv) Central Sales Tax Act |
Displays the credit value entered for VAT ledger in journal voucher to account for CST dues. |
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Total |
Displays auto calculated value. |
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(11) Net amount of tax refundable/carried forward (9-10) |
Displays auto calculated value. |
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(12) No. and date of receipted challans under which payment are made and TDS Certificates attached to this return in proof of payment |
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A. No. and date of Challan |
Displays the challan number and date entered for the VAT payment voucher in Tax Payment Reconciliation screen. |
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B. No. and date of TDS Certificates ( Form VAT VII) |
This field is left blank. |
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(13) Details of Bank account (only the changes in the Bank Account if any, during the return period to be reported) |
This field is left blank. |
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Declaration |
Displays the name, place, and date are displayed as provided in the Print Report screen of Form III. |