Exporting e-VAT Form VAT 15 (Chandigarh)

Displays the value of sales recorded with the following nature of transactions:

o Sales Taxable

o Sales - Works contract

Displays the value of sales recorded with the following nature of transactions:

o Interstate Sales - Against Form C

o Interstate Sales - E1

o Interstate Sales - Taxable

o Interstate Sales - Works Contract

Displays the value of sales recorded with the following nature of transactions:

o Interstate Sales - E2

o Interstate Deemed Export

o Interstate Sales Exempt

o Interstate Sales Exempt - E1

o Deemed Export

o Exports

o Interstate Sales Exempt - With Form C

o Interstate Sales - Zero Rated

o Sales Exempt : In the ledger, the Party Entity/Org. Type can be set to Exempted Unit or Not Applicable.

o Sales Zero Rated : The option Party Entity/Org. Type can be set to any of the following:

o Not Applicable

o Diplomatic Missions, U.N, UNICEF, WHO & Foreign Aid

o SEZ / STP / EHTP

Displays the value of sales recorded with the following nature of transactions:

● Exports

● Deemed Export

● Interstate Deemed Export

● Sales Zero Rated : The option Party Entity/Org. Type can be set to any of the following:

o Not Applicable

o Diplomatic Missions, U.N, UNICEF, WHO & Foreign Aid

o SEZ / STP / EHTP

Displays the value of sales recorded with the following nature of transactions:

● Interstate Sales - Against Form C

● Interstate Sales - E1

● Interstate Sales Exempt - E1

● Interstate Sales Exempt

● Interstate Sales Exempt - With Form C

● Interstate Sales - E2

● Interstate Sales - Taxable

● Interstate Sales - Works Contract

● Interstate Sales - Zero Rated : The option Party Entity/Org. Type can be set to any of the following:

o Not Applicable

o Diplomatic Missions, U.N, UNICEF, WHO & Foreign Aid

o SEZ / STP / EHTP

Displays the value of sales recorded with the following nature of transactions:

● Sales Exempt : In the ledger, the Party Entity/Org. Type can be set to Exempted Unit or Not Applicable .

● Sales - Tax Free

The following Nature of Return are considered here:

● Not Applicable

● Cancelled

● Change in Consideration

● Change in Nature

● Trade Discount

● Cash Discount

To record  the increase of output tax

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select VAT as the Type of duty/tax .

o Select Increase of Output Tax as the Nature of Adjustment .

o Select Not Applicable or Trade Discount in Additional Details section .

3. Debit the sales ledger.

4. Credit the output VAT ledger.

5. Enter the tax Rate , Assessable Value in VAT Details screen.

6. Press Ctrl+A to save.

Displays the value of sales recorded with the following nature of transactions:

● Branch Transfer Outward

● Consignment Transfer Outward

● Interstate Branch Transfer Outward

● Interstate Consignment Transfer Outward

Displays the value of purchases recorded with the following nature of transactions:

o Interstate Purchase - Against Form C

o Interstate Purchase - E1

o Interstate Purchase - Taxable

Displays the value of purchases recorded with the following nature of transactions:

o Imports

o Purchase From Unregistered Dealer

o Purchase Deemed Export

o Interstate Purchase - E2

o Consignment Transfer Inward

o Interstate Consignment Transfer Inward

o Branch Transfer Inward

o Interstate Branch Transfer Inward

o Interstate Purchase Deemed Export

o Interstate Purchase Exempt - E1

o Interstate Purchase Exempt

o Interstate Purchase Exempt - With Form C

o Interstate Purchase - Zero Rated

o Purchase Exempt: In the ledger,

o The Party Entity/Org. Type is set to Exempted Unit or Not Applicable .

o The Schedule option is to Schedule H .

Displays the value of purchases recorded with the following nature of transactions:

● Imports

● Purchase Deemed Export

● Interstate Purchase Deemed Export

Displays the value of purchases recorded with the following nature of transactions:

● Interstate Branch Transfer Inward

● Interstate Consignment Transfer Inward

● Interstate Purchase - Against Form C

● Interstate Purchase - E1

● Interstate Purchase - E2

● Interstate Purchase Exempt - E1

● Interstate Purchase Exempt

● Interstate Purchase - Zero Rated

● Interstate Purchase - Taxable

● Branch Transfer Inward

● Consignment Transfer Inward

● Interstate Purchase Exempt - With Form C

Displays the value of purchases recorded with the following nature of transactions:

● Purchase Exempt : In the ledger, the Party Entity/Org. Type can be set to Exempted Unit or Not Applicable .

● Purchase - Tax Free

The Schedule option is set to Schedule H in VAT Details screen of purchase ledger.

The following Nature of Return are considered here:

● Not Applicable

● Change in Consideration

● Change in Nature

● Trade Discount

● Cash Discount

Output VAT on sales recorded with the following nature of transactions:

● Sales - Taxable

● Sales - Works Contract

To account for purchase tax

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment . Set the options as given below in the Stat Adjustment Details screen.

o Select VAT as the Type of duty/tax .

o Select Tax on URD Purchase as the Nature of Adjustment .

3. Debit the ledger grouped under Indirect Expenses .

4. Credit the purchase tax ledger (grouped under Duties & Taxes with Type of duty/tax set to VAT ).

5. Enter the tax Rate and Assessable Value in VAT Details screen.

6. Press Ctrl+A to save.

The following Nature of Return are considered here:

● Cancelled (Prior Period)

● Change in Nature (Prior Period)

● Change in Consideration (Prior Period)

● Change in Consideration (Previous Year)

● Prior Period

(a) ITC brought forward from previous year

Displays auto calculated value . This amount matches with the amount shown in box 5h(i).

To account for tax credit on opening stock in journal voucher

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select VAT as the Type of duty/tax .

o Select Increasing Input Tax as the Nature of Adjustment . In Additional Details section the text appears as Installment of Input Tax on Stock Help on Appointed Day .

3. Debit the input VAT ledger. Enter the tax Rate and Assessable Value . Enter the tax amount.

4. Credit the ledger grouped under Current Assets .

5. Press Ctrl+A to save.

(b) Add ITC on Non Capital goods

Displays auto calculated value.

Capital goods ledger should be grouped under Fixed Assets and the option:

o Is VAT/CST Applicable must be set to Applicable .

o Set/Alter VAT Details must be enabled.

In VAT Details screen of capital goods ledger, the option Nature of transaction must be set to Purchase Taxable - Capital Goods .

To avail input tax on capital goods

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select VAT as the Type of duty/tax .

o Select Input Tax Credit Admitted On Capital Goods as the Nature of Adjustment .

3. Debit the input VAT ledger.

4. Select the purchase reference and enter the purchase details in Credit Settlement Details screen.

5. Enter the tax amount.

6. Credit the ledger grouped under Current Assets .

7. Press Ctrl+A to save.

To account for TDS adjustment

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select VAT as the Type of duty/tax .

o Select Decrease Of Output Tax as the Nature of Adjustment .

o Select TDS Adjustments in Additional Details section .

3. Debit the VAT ledger. Enter the tax Rate and Assessable Value . Enter the tax amount.

4. Credit the ledger grouped under Current Assets .

5. Press Ctrl+A to save.

To reverse the tax credit on tax free goods

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Reversal of Input Tax , as the Nature of adjustment .

o Select Apportionment of Input Tax for Tax Free Goods in Additional Details section.

3. Debit the expense or purchase ledger and enter the amount.

4. Credit the VAT ledger. Enter the tax Rate , Assessable Value , Commodity Name and Commodity Code .

5. Press Ctrl+A to save.

To reverse the tax credit on branch transfers

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Reversal of Input Tax , as the Nature of adjustment .

o Select Apportionment of ITC for Branch Transfer in Additional Details section.

3. Debit the expense ledger and enter the amount to be reversed.

4. Credit the VAT ledger. Enter the tax Rate and Assessable Value .

5. Press Ctrl+A to save.

To reverse the tax credit

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Reversal of Input Tax , as the Nature of adjustment .

o Select Not Applicable in Additional Details section.

3. Debit the expense ledger and enter the amount to be reversed.

4. Credit the VAT ledger. Enter the tax Rate and Assessable Value .

5. Press Ctrl+A to save.

To record decrease of tax credit on unsold stock

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select VAT as the Type of duty/tax .

o Select Decrease of Input Tax as the Nature of Adjustment .

o Select Tax Paid on Unsold Stock in Additional Details section.

3. Debit the ledger grouped under Current Assets .

4. Credit the input VAT ledger. Enter the tax Rate and Assessable Value . Enter the tax amount.

5. Press Ctrl+A to save.

This amount matches with the amount shown in box 5h(ii).

To account for notional tax credit on non-capital goods

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Notional Input Tax Credit on non capital Goods , as the Nature of adjustment .

o Select on Non Capital Goods in the Additional Details section.

3. Debit the expense ledger and enter the tax amount to be reversed.

4. Credit the notional tax ledger. Enter the tax Rate and Assessable Value .

Note: To identify a ledger for notional tax, in the ledger grouped under Duties & Taxes with Type of duty/tax set to VAT , set the option Use for Notional ITC to Yes .

5. Press Ctrl+A to save.

Capital goods ledger should be grouped under Fixed Assets and the option:

o Is VAT/CST Applicable must be set to Applicable .

o Set/Alter VAT Details must be enabled.

In VAT Details screen of capital goods ledger, the option Nature of transaction must be set to Purchase - Capital Goods Notional ITC .

To record  the notional tax credit on capital goods

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select VAT as the Type of duty/tax .

o Select Notional Input Tax credit on Capital Goods as the Nature of Adjustment .

o Select on Capital Goods in the Additional Details section.

3. Debit the notional input tax ledger.

Note: To identify a ledger for notional tax, in the ledger grouped under Duties & Taxes with Type of duty/tax set to VAT , set the option Use for Notional ITC to Yes .

4. Select the purchase reference and enter the purchase details in Credit Settlement Details screen.

5. Enter the tax amount.

6. Credit the ledger grouped under Current Assets .

7. Press Ctrl+A to save.

To reverse the notional tax credit on tax free goods

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Reversal of Input Tax , as the Nature of adjustment .

o Select Apportionment of Input Tax for Tax Free Goods in Additional Details section.

3. Debit the expense ledger and enter the amount to be reversed.

4. Credit the notional input tax ledger. Enter the tax Rate and Assessable Value .

Note: To identify a ledger for notional tax, in the ledger grouped under Duties & Taxes with Type of duty/tax set to VAT , set the option Use for Notional ITC to Yes .

5. Press Ctrl+A to save.

To reverse the notional tax credit on sales

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Reversal of Notional Input Tax , as the Nature of adjustment .

o Select on Account of Sales in Additional Details section.

3. Debit the expense ledger and enter the amount to be reversed.

4. Credit the notional input tax ledger. Enter the tax Rate and Assessable Value .

Note: To identify a ledger for notional tax, in the ledger grouped under Duties & Taxes with Type of duty/tax set to VAT , set the option Use for Notional ITC to Yes .

5. Press Ctrl+A to save.

To reverse the notional tax credit on branch and consignment transfer

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Reversal of Notional Input Tax , as the Nature of adjustment .

o Select on Branch Transfer and Consignment in Additional Details section.

3. Debit the expense ledger and enter the amount to be reversed.

4. Credit the notional input tax ledger. Enter the tax Rate and Assessable Value .

Note: To identify a ledger for notional tax, in the ledger grouped under Duties & Taxes with Type of duty/tax set to VAT , set the option Use for Notional ITC to Yes .

5. Press Ctrl+A to save.

To reverse the notional tax credit on purchase returns

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Reversal of Notional Input Tax , as the Nature of adjustment .

o Select on Purchase Return in Additional Details section.

3. Debit the expense ledger and enter the amount to be reversed.

4. Credit the notional input tax ledger. Enter the tax Rate and Assessable Value .

Note: To identify a ledger for notional tax, in the ledger grouped under Duties & Taxes with Type of duty/tax set to VAT , set the option Use for Notional ITC to Yes .

5. Press Ctrl+A to save.

This amount matches with the amount shown in box 3(d).

This amount matches with the amount shown in box 4(k).

To adjust notional tax credit against output VAT

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Decrease of Output Tax , as the Nature of adjustment .

o Select Adjustment of Output VAT Against Notional ITC in Additional Details section.

3. Debit the expense ledger and enter the amount to be reversed.

4. Credit the notional input tax ledger. Enter the tax Rate and Assessable Value .

Note: To identify a ledger for notional tax, in the ledger grouped under Duties & Taxes with Type of duty/tax set to VAT , set the option Use for Notional ITC to Yes .

5. Press Ctrl+A to save.

This amount matches with the amount shown in box 5(dj).

Payment voucher created from Form 15 report by clicking S : Stat Payment .

Click S : Set Details in Tax Payment Reconciliation screen to view the Stat Payment Details screen.

Click S : Set Details in Tax Payment Reconciliation screen to view the Stat Payment Details screen.

Click S : Set Details in Tax Payment Reconciliation screen to view the Stat Payment Details screen.

Click S : Set Details in Tax Payment Reconciliation screen to view the Stat Payment Details screen.

Appears on pressing Ctrl+E from Form 15 report.

Appears on pressing Ctrl+E from Form 15 report.

To account for TDS adjustment on works contract

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Decrease of Output Tax , as the Nature of adjustment .

o Select TDS on Works Contract in Additional Details section.

3. Debit the VAT ledger. Enter the tax Rate and Assessable Value . Enter the tax amount to be reversed.

4. Credit the ledger grouped under Current Assets .

5. Press Ctrl+A to save.

The option Nature of Return appears in Statutory Details screen of credit note.

To account for sales returns in journal voucher

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Decrease of Output Tax , as the Nature of adjustment .

o Select Not Applicable in Additional Details section.

3. Credit the party ledger and enter the amount.

4. Credit the sales ledger with Sales Taxable or Sales - Works Contract selected as the nature of transaction.

5. Debit the output VAT ledger. Enter the tax Rate and Assessable Value .

6. Press Ctrl+A to save.

The option Nature of Return appears in Statutory Details screen of credit note.

To account for cash discount in journal voucher

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Decrease of Output Tax , as the Nature of adjustment .

o Select Cash Discount on Sales in Additional Details section.

3. Credit the party ledger.

4. Debit the output VAT ledger. Enter the tax Rate and Assessable Value . Enter the tax amount to be reversed.

5. Debit the sales ledger with Sales Taxable or Sales - Works Contract selected as the nature of transaction.

6. Press Ctrl+A to save.

To account for trade discount in journal voucher

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Increase of Output Tax , as the Nature of adjustment .

o Select Trade Discount in Additional Details section.

3. Credit the party ledger.

4. Debit the output VAT ledger. Enter the tax amount to be reversed.

5. Debit the sales ledger with Sales Taxable or Sales - Works Contract selected as the nature of transaction.

6. Press Ctrl+A to save.

To account for hire purchase

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Increase of Tax Liability , as the Nature of adjustment .

o Select Sales by Hire Purchase Or Instalment Purchase in Additional Details section.

3. Debit the sales ledger. Enter the tax Rate and Assessable Value . Enter the amount.

4. Credit the output VAT ledger. Enter the tax Rate and Assessable Value .

5. Press Ctrl+A to save.

The option Nature of Return appears in Statutory Details screen of credit note.

The option Nature of Return appears in Statutory Details screen of credit note.

The option Nature of Return appears in Statutory Details screen of credit note.

To account for decrease in output VAT

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Decrease of Output Tax , as the Nature of adjustment .

o Select Not Applicable in Additional Details section.

3. Debit the sales ledger. Enter the tax Rate and Assessable Value . Enter the amount.

4. Debit the output VAT ledger. Enter the tax Rate and Assessable Value . Enter the tax amount.

5. Credit the expense ledger.

6. Press Ctrl+A to save.

The option Nature of Return appears in Statutory Details screen of credit note.

The option Nature of Return appears in Statutory Details screen of credit note.

To account for cash discount in journal voucher

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Reversal of Input Tax , as the Nature of adjustment .

o Select Cash Discount on Purchase in Additional Details section.

3. Debit the expense ledger. Enter the tax amount to be reversed.

4. Credit the input VAT ledger Enter the tax Rate and Assessable Value .

5. Press Ctrl+A to save.

To account for trade discount in journal voucher

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Reversal of Input Tax , as the Nature of adjustment .

o Select Trade Discount in Additional Details section.

3. Debit the purchase ledger and enter the amount.

4. Credit the purchase ledger with Purchase Taxable selected as the nature of transaction. Enter the amount.

5. Credit the input VAT ledger. Enter the tax Rate and Assessable Value .

6. Press Ctrl+A to save.

To account for reversing input VAT for other purchases

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select Type of duty/tax as VAT .

o Select the Reversal of Input Tax , as the Nature of adjustment .

o Select Other Purchase Adjustment in Additional Details section.

3. Debit the party ledger.

4. Credit the purchase ledger VAT ledger. Enter the tax Rate and Assessable Value . Enter the amount.

5. Debit the input VAT ledger. Enter the tax Rate and Assessable Value . Enter the tax amount.

6. Press Ctrl+A to save.

The option Nature of Return appears in Statutory Details screen of credit note.

The option Nature of Return appears in Statutory Details screen of credit note.

The option Nature of Return appears in Statutory Details screen of credit note.

The option Nature of Return appears in Statutory Details screen of credit note.

The option Nature of Return appears in Statutory Details screen of credit note.

The option Nature of Return appears in Statutory Details screen of credit note.

The option Nature of Return appears in Statutory Details screen of credit note.

The option Nature of Return appears in Statutory Details screen of credit note.

To account for tax credit on opening stock in journal voucher

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment to view the Stat Adjustment Details screen and set the options as given below:

o Select VAT as the Type of duty/tax .

o Select Increasing Input Tax as the Nature of Adjustment .

3. Debit the input VAT ledger. Enter the tax Rate and Assessable Value . Enter the tax amount.

4. Credit the ledger grouped under Current Assets .

5. Press Ctrl+A to save.