Summary of Exceptions - VAT Form 15 (Punjab)

The Summary of Exceptions screen displays the count of transactions that are neither included nor excluded in the VAT Form due to insufficient information.

To view the Summary of Exceptions screen

     Select Uncertain Transactions in Form 15 report.

     Press Enter.

Master Related Exceptions

Party

Unable to determine country/state: Displays the transactions for which state is not selected in the party ledger master.

Unable to determine party's dealer type: Displays the transactions for which dealer type is not selected in the party master.

Ledger

Unable to determine duty type of ledger: Displays the transactions for which the duty type is not selected in the tax ledger grouped under Duties & Taxes.

Tax Details

Unable to determine tax details of the stock group/stock item(s): Displays the stock groups (if linked to stock items), and stock items grouped under it, for which the VAT rate is not defined either in master or at the company level.

Unable to determine tax details of group/ledger(s): Displays the account groups, and ledgers grouped under it, for which the tax rate is not defined either in master or at the company level.

Transaction Related Exceptions

Conflict in Information

Conflict in party's country/state in master and transaction: Displays the transactions in which the state selected is different in transaction and party ledger.

Transactions accepted with tax information conflicts: Displays the transactions in which the Nature of Transaction defined in the ledger master has been changed in the transaction without causing any impact on the tax amount.

Tax Mismatch

Mismatch in tax amount: Displays the transactions with difference between the calculated amount and transaction value.

Transactions may appear with the following exceptions:

     Assessable Value Modified: This exception occurs when assessable value is modified in the transaction.

     Assessable Value/Rate Modified: This exception occurs when assessable value and tax rate are modified in the transaction.

     No Tax Involved: This exception occurs when VAT ledger is not selected in the transaction.

     Rate Value Modified: This exception occurs when tax rate is modified in the transaction.

     Rounded Off: This exception occurs when VAT amount is altered in the invoice by:

o     Rounding off the decimals.

o     Entering the decimals.

     Wrong Calculation: This exception occurs when incorrect VAT or CST amount is entered in the transaction.

     Wrong Duty Ledger: This exception occurs when VAT ledger (with Type of Duty/Tax set to VAT) is selected in interstate transactions and CST ledger (with Type of Duty/Tax set to CST) is selected in local purchases and sales.

VAT/CST Adjustment

Unable to determine nature of adjustment: Displays the journal vouchers recorded with tax ledger (grouped under Duties & Taxes), without selecting Nature of Adjustment.

Unable to determine purchase tax details: Displays list of journal vouchers recorded with Tax on URD Purchase as the Nature of adjustment, without entering the Rate and Assessable Value in VAT Details screen, displayed on crediting the VAT ledger.