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Composition VAT Computation Report & Return Form [ VAT ]in Tally.ERP 9

VAT Computation

The VAT Computation reports provide the Assessable Value and the Tax Amount of the sales and purchase transactions entered using different Composite VAT/ Tax classifications.

To view the VAT Composition Computation report,

Go to Gateway of Tally > Display > Statutory Reports > VAT Composition > VAT Composition Computation


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The above screen displays the total of Composite VAT payable on sales and purchases made during the specified period.  The VAT Composition computation report shown above precisely indicates the value of Composite VAT Payable.

Assessable Value

The Assessable Value is the sum of the total value of goods at which they are purchased and sold. This assessable value is the value on which Composite VAT is calculated.

Tax Amount

The total Tax Amount calculated on Assessable value using the respective Tax percentage is the Tax Amount.

F12: Configuration

You can set the option Show Purchase VAT Classifications  to Yes in F12: Configuration to display the purchase classifications.


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The VAT Computation screen now displays as shown:


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Composite VAT Return Form

The print preview of Form VAT 120 appears as shown:


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Tally.ERP 9 Reference Manual LIBRARY
1.
Installation of Tally.ERP9
2.
Site Licensing of Tally.ERP9
3.
Shortcut Keys in Tally.ERP9
4.
Maintaining Company Data
5.
Creating Masters
5a. Accounts Information [Creating Masters]
5b. Inventory Information [Creating Masters]
6.
Voucher Entry
7.
Reports in Tally.ERP9
8.
Excise for Dealer
9.
Excise for Manufacturer
10.
Reports [ Excise for Manufacturer]
11.
Excise for Importer
12.
Service Tax in Tally.ERP9
13.
Tax Collected at Source (TCS) in Tally.ERP9
14.
Tax Deducted at Source (TDS) in Tally.ERP9
15.
Value Added Tax (VAT) in Tally.ERP9
16.
Central Sales Tax (CST) in Tally.ERP9
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
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