Annexure Reversal Tax Credit captures details of reversal of Input Tax Credit.
To view and export Annexure Reversal Tax Credit
1. Go to Gateway of Tally > Display > Statutory Reports > VAT > select Form VAT R1
2. Select Annexure Ready and press Enter .
3. Select Annexure Reversal Tax Credit and press Enter . The Annexure Reversal Worksheet screen appears.
4. Click E : Export .
5. Press Enter to export data.
The value of Annexure Reversal Tax Credit is captured in R1 - 5 (2) Less Tax paid on purchase, not part of input tax as per 9 and in 6(1), 6(2) and 6(4).
The exported data appears in the TEMPLATE-VAT-RETURN-R1-ITC_REVERSAL_WORKSHEET.xls file.
The description of the information displayed in each field is given below:
|
Field Name |
Description |
|
Sr. No. |
Displays the serial number of the journal voucher. |
|
Computation of tax paid in respect of goods purchased in the State form VAT dealers on tax invoice which is not to form part of input tax* |
Displays the circumstances in which input tax credit is reversed (as selected in the Additional Details field in the journal voucher). |
|
Rate at which ITC is to be reversed * |
D isplays the rate of tax at which goods were transacted and eligible for the reversal of Input Tax Credit (as selected in the Additional Details field in the journal voucher). |
|
Turnover* |
Displays the net assessable value of goods transacted (with flag Reversal of ITC in the journal voucher). |
|
Input Tax to be reversed |
Displays the input tax amount to be reversed. |