Annexure 24 - VAT Form 15 (Punjab)

Discount/Incentive

Displays all purchase returns recorded (with the nature of transactions provided in Prerequisites of purchases) in debit note and journal voucher by selecting the Nature of Return as Cash Discount or Trade Discount.

Exempted Purchase

Displays purchases recorded with the following nature of transactions:

●     Purchase Exempt

●     Purchase Taxable - Capital Goods

When common purchase ledger is used, if the stock item selected in the transaction is predefined as:

●      Exempt, the value appears against Exempted purchases (nature of transaction in template).

●      Tax Free, the value appears against Tax Free Purchase (nature of transaction in template).

Purchase Return

Displays all purchase returns recorded (with the nature of transactions provided under Prerequisites of purchase) in debit note by selecting the Nature of Return as Not Applicable.

Displays only those transactions of purchase returns recorded within six months from the original invoice date.

Retail Purchase

Displays the value of purchases recorded by selecting Non-Creditable Purchases as the nature of transaction, with Party Entity/Org. Type set to Retail.

Tax Free Purchase

Displays the value of purchases with Purchase - Tax Free selected as the nature of transaction.

When common purchase ledger is used, if the stock item selected in the transaction is predefined as:

●      Exempt, the value appears against Exempted purchases (nature of transaction in template).

●      Tax Free, the value appears against Tax Free Purchase (nature of transaction in template).

Purchase Against H Form

Displays purchases recorded with the nature of transaction Purchase Deemed Export (select H Form as the Form to issue in Statutory Details screen of purchase invoice).

Purchases liable to Purchase Tax u/s 19(1)

Displays purchases with Purchases - Schedule H Items (u/s 19(1)) selected as the nature of transaction.

Purchase of taxable goods from other than Taxable and Registered Person except goods liable to Purchase Tax u/s19(1)

Displays purchases recorded with the nature of transaction Purchase from Unregistered Dealer, by selecting purchase ledger or stock item predefined with, any Schedule other than Schedule H.

Purchase from Taxable Person

Displays purchases recorded:

●      With the nature of transaction Purchase Taxable and Purchase Taxable - Capital Goods.

●      By selecting the Type of Dealer as Regular and entering the TIN in Party Details screen of the invoice.

Purchases not eligible for ITC u/s 13(5)

Displays the value of purchases recorded with the purchase ledger predefined with:

●      Non Creditable Purchase - Special Goods as the Nature of transaction.

●      Not Applicable as the Party Entity/Org. Type.

Repair/Job Work

Displays the value of purchases recorded with the nature of transaction Purchase - Works Contract.

Exempted Purchase

Displays purchases recorded with the following nature of transactions:

●     Purchase Exempt

●     Purchase Taxable - Capital Goods

When common purchase ledger is used, if the stock item selected in the transaction is predefined as:

●      Exempt, the value appears against Exempted purchases (nature of transaction of template).

●      Tax Free, the value appears against Tax Free Purchase (nature of transaction of template).

Tax Free Purchase

Displays the value of credit note recorded with the nature of transaction Purchase - Tax Free.

When common purchase ledger is used, if the stock item selected in the transaction is predefined as:

●      Exempt, the value appears against Exempted purchases (nature of transaction of template).

●      Tax Free, the value appears against Tax Free Purchase (nature of transaction of template).

Purchase Against H Form

Displays the value of credit note recorded with the nature of transaction Purchase Deemed Export (select H Form as the Form to issue in Statutory Details screen of purchase invoice).

Purchases liable to Purchase Tax u/s 19(1)

Displays purchases with Purchases - Schedule H Items (u/s 19(1)) selected as the nature of transaction.

Purchase of taxable goods from other than Taxable and Registered Person except goods liable to Purchase Tax u/s19(1)

Displays purchases recorded with the nature of transaction Purchase from Unregistered Dealer, by selecting purchase ledger or stock item predefined with, any Schedule other than Schedule H.

Purchase from Taxable Person

Displays purchases recorded:

●      With the nature of transaction Purchase Taxable and Purchase Taxable - Capital Goods.

●      By selecting the Type of Dealer as Regular and entering the TIN in Party Details screen of the invoice.

Purchases not eligible for ITC u/s 13(5)

Displays purchases recorded with the purchase ledger predefined with:

●      Non Creditable Purchase - Special Goods as the Nature of transaction.

●      Not Applicable as the Party Entity/Org. Type.

Repair/Job Work

Displays the value of purchases recorded with the nature of transaction Purchase - Works Contract.