To create a VAT Payment voucher,
Go to Gateway of Tally > Accounting Vouchers > F5: Payment
In the Payment Voucher press Stat Payment button (Alt+S). In the Statutory Payment screen enter the details given below:
In Statutory Payment screen
Type of Duty/Tax: Select VAT if the payment is being made towards VAT dues, else select CST.
Auto Fill Statutory Payment: Set it to Yes to automate the display of VAT payable amount.
Adjust Input VAT for Payment: This field gets displayed only when - Auto Fill Statutory Payment is enabled. On setting this field to Yes, the VAT payable amount gets calculated by offsetting output VAT against the available tax credit.
Period From: Enter the return period in From and To fields.
Press Enter to save the Statutory Payments screen. On saving the Statutory Payments details, the VAT Details will be auto filled in the payment Voucher.
In Account field select the Bank Ledger - Dena Bank from the List of Ledger Accounts
Enable the option Provide Details to Yes to enter the payment Details
In Payment Details screen
Period From and To: The period details will be displayed automatically based on the details entered in Statutory Details scren.
Type of Payment: Select Not Applicable as the payment is made towards the Original returns (monthly VAT liability)
Deposit Date: Enter the Date of Deposit of VAT to the department.
DD/Cheque No.: Enter the DD or Cheque Number through which the payment is made.
Name of Issuing Bank: Enter the name of the bank on which the DD or cheque is issued.
Enter the details in the field Narration, if required.
Press Y or Enter to accept and save.
Recording Payment Voucher in Different Scenarios
Paying only the output VAT amount using Statutory Payment button
In the Payment Voucher press S: Stat Payment button (Alt + S) to display the Statutory Payment Details screen. Set Auto Fill Statutory Payment to Yes to calculate the VAT payable amount automatically and set Adjust Input VAT for Payment to No.
Automatically offsetting the Output VAT against available Tax credits
In the Payment Voucher press S: Stat Payment button (Alt + S) to display the Statutory Payment Details screen. Set Auto Fill Statutory Payment to Yes andAdjust Input VAT for Payment to Yes.
Entering VAT payable amount manually
In the Payment Voucher press S: Stat Payment button (Alt + S) to display the Statutory Payment Details screen. Set Auto Fill Statutory Payment to No.
Paying Other Current Liabilities by recording separate entry for each Payment Type
Payment of only the current liabilities like interest, penalty, late fees etc. as per state-specific provisions can be recorded in payment voucher. In the Payment Voucher press S: Stat Payment button (Alt + S) to display the Statutory Payment Details screen. Set Auto Fill Statutory Payment to No. On selecting theCurrent Liability ledger the Payment Type sub-screen will be displayed. Select the required Type of Payment and accept the payment entry.
In the absence of output VAT ledgers or taxable sales entries, if the Stat Payment button is selected in payment voucher for automating the payment value, the Alert Message will be displayed as shown:
On display of this Alert message follow any of the following procedures:
1. Check From and To dates to ensure that balances are available in both Input and Output Vat ledgers for the specified period
2. Ensure that the Input Vat and Output Vat ledgers are selected with the respective VAT Sub Type
3. Mark the Auto Fill option as No and continue as a Manual Payment.