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10. 2 Sales Tax / VAT Summaries

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10. 2 Sales Tax / VAT Summaries

Sales Tax / VAT Summaries report displays various summarized reports for CST and VAT. On clicking the VAT Summaries option, a list of reports is displayed. Various reports in the list are:

VAT Summary

VAT Computation

Sale Type Summary

Purchase Type Summary

Sale VAT Summary

Purchase VAT Summary

Annual VAT Summary

Item Tax Rate–Wise Summary

Party–Wise Sale VAT Summary

Party–Wise Purchase VAT Summary

Unit 10 – Sales Tax & VAT Reports 241

Item–Wise Sale VAT Summary

Item–Wise Purchase VAT Summary

Party-Wise Sale CST Summary

Party-Wise Purchase CST Summary

Item-Wise Sale CST Summary

Item-Wise Purchase CST Summary

Let us discuss these reports in detail.

VAT Summary

VAT Summary report forms the base for all other VAT reports. It is a detailed summary of all the transactions related to VAT and CST. It takes into account Tax Free and Exempted Sale / Purchase and Purchase CST that are not included in the VAT Computation report. The report calculates Nett Input VAT, Total Output VAT, Nett VAT payable / refundable and CST Payable. On clicking the VAT Summary option, a Report Options window appears. Enter required data in the data fields of Report Options window and click the Ok button. On clicking the Ok button, a VAT Summary report appears. Given here is a screenshot of VAT Summary report.

Image on next Page

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Figure 10.3 VAT Summary

VAT Computation

VAT Computation calculates the Net VAT Payable / Refundable for a specified period and displays all the computations used to derive at the final figure. It contains comprehensive detail such as Input VAT, Output VAT and so on.

Sale Type Summary

Sale Type Summary report contains details of all the Sale Types that have been used in Sales / Sales Return transactions. It displays the summary of Sales and Sales Return for a specific Sale Type. All the Sales / Sales Returns belonging to specific Sales Type (C-10%, C/C Form and so on) are grouped together. Let us understand with the help of an example. There are two Sale Types, C-10 % and C/C-Form. In such a case, all the Sales / Sales Return transactions with C-10% Sale Type will be grouped under C-10% heading and all the Sale / Sale Return transactions having C/C-Form will be grouped under C/C- Form.

Unit 10 – Sales Tax & VAT Reports 243

Purchase Type Summary

Purchase Type Summary report contains details of all the Purchase Types that have been used in Purchase / Purchase Return transactions. It displays the summary of Purchase and Purchase Return transactions having a specific Purchase Type. All the Purchase / Purchase Returns belonging to specific Purchase Type (C-10%, C/C – Form and so on) are grouped together and displayed under separate headings.

Annual VAT Summary

Annual VAT Summary report displays the annual taxable and tax amount bifurcated either monthly or quarterly. On selecting the Annual VAT Summary option, an Annual Tax Summary message box appears. In the message box, there are two options. The options are:

Month–Wise – Select this option to view month–wise tax details.

Quarter-Wise – Select this option to view quarter–wise tax details.

On selecting any of the above option, a Report Options window appears. Given here are the data fields that appear in the Report Options window.

Include Sale / Purchase Return – Specify ‘Y’ in this data field to include sale / purchase transactions in the report.

Enter required data in the data field of Report Options window and click the Ok button. On clicking the Ok button, Annual VAT Summary report appears. Given here are the screenshots of month–wise and quarter–wise Annual VAT Summary reports.

244

Figure 10.4 Annual VAT Summary – Month–Wise

Figure 10.5 Annual VAT Summary – Quarter-Wise

Unit 10 – Sales Tax & VAT Reports 245

Item Tax Rate-Wise Summary

Item Tax Rate-Wise Summary report displays the tax wise details of items. The report generate summary of Opening Stock, Purchase, Sales and Closing Stock of items clubbed on the basis of rate of tax. On clicking the Item Tax Rate-Wise Summary option, an Item Tax Rate-Wise Summary message box appears. In the message box, there are two options. The options are:

All Items – Select this option to view tax rate–wise summary of all the items.

Group of Items – Select this option to view tax rate–wise summary of a particular Group of Items.

On selecting any of the above option, an Item Tax Rate-Wise Summary message box appears. In the message box, there are three options. The options are:

Local – Select this option to view report for only local transactions.

Central – Select this option to view report for only central transactions.

Both – Select this option to view report for both local and central transactions.

On selecting any of the above option, a Report Options window appears. Given here are the data fields that appear in the Report Options window.

Specify the Group Name – Select the Item Group for which you want to view the report.

Starting Date – Enter the starting date from which the transactions are to be picked.

Ending Date – Enter the ending date up to which the transactions are to be picked.

Consider Sales and Purchase Return Entries – Specify ‘Y’ in this data field to include sale / purchase return transactions also in the report.

Include CST in Purchase – Specify ‘Y’ in this data field if you want to include central purchase transactions also in the report.

Enter required data in the data fields of Report Options window and click the Ok button. On clicking the Ok button, Item Tax Rate-Wise Summary report appears. Given here is a screenshot of Item Tax Rate-Wise Summary report.

Figure 10.6 Item Tax Rate -Wise Summary

246

Party-Wise Sale VAT Summary

Party-Wise Sale VAT Summary report displays the party-wise tax collected on the sale of goods. The report displays separate columns for tax collected as per different tax rates. On clicking Party-Wise Sale VAT Summary option, a Party-Wise Sale VAT Summary message box appears. In the message box, there are two options. The options are:

All Parties – Select this option to view report for all the parties.

Group of Parties – Select this option to view report for a Group of Parties.

On selecting any of the above option, a Party-Wise Sale VAT Summary message box appears. In the message box, there are three options. The options are:

Both Tax & Retail Invoice – Select this option to view report for tax collected on both Tax Invoice and Retail Invoice.

Tax Invoice – Select this option to view report for tax collected on Tax Invoice only.

Retail Invoice – Select this option to view report for tax collected on Retail Invoice only.

On selecting any of the above option, a Report Options window appears. Given here are the data fields that appear in the Report Options window.

Select Party Group – Select this option to view report for a particular Party Group.

Starting Date – Enter the starting date from which the transactions are to be picked.

Ending Date – Enter the ending date up to which the transactions are to be picked.

Consider Sale Return – Specify ‘Y’ in this data field to include sales return transactions also in the report.

Club Retail Sale – Specify ‘Y’ in this data field to club all the retails sales. On specifying ‘Y’ in this data field, in Party column, a Retail Sales value will be displayed and in front of this row all the tax amount collected on the Retail Invoices will be displayed.

Show Address of Parties / Accounts – Specify ‘Y’ in this data field to view address of the party in the report.

Show Parties with Turnover more than – Specify a value in this data field, parties having turnover more than which, will be displayed in the report. For example, if you specify Rs. 1,00,000 in this data field then all the parties with whom sale transactions of more than Rs. 1,00,000 is made will be displayed in the report.

Enter required data in the data fields of Report Options window and click the Ok button. On clicking the Ok button, a Party-Wise Sale VAT Summary report appears. Given here is a screenshot of Party-Wise Sale VAT Summary report.

Unit 10 – Sales Tax & VAT Reports 247

Figure 10.7 Party-Wise Sale VAT Summary

Party-Wise Purchase VAT Summary

Party-Wise Purchase VAT Summary report displays the party-wise tax paid on the purchase of goods.

The report displays separate columns for tax paid on various tax rates.

Item-Wise Sales VAT Summary

Item-Wise Sales VAT Summary report displays item-wise summary for sales transactions on which VAT has been collected. The report displays separate column for tax paid on various tax rates.

Item-Wise Purchase VAT Summary

Item-Wise Purchase VAT Summary report displays item-wise summary for purchase transactions on which VAT has been paid. The report displays separate column for tax paid on various tax rates.

Party–Wise Sales CST Summary

Party-Wise Sales CST Summary report displays the party–wise CST collected on the sale of goods. The report displays separate column for tax paid on various tax rates.

Party-Wise Purchase CST Summary

Party-Wise Purchase VAT Summary report displays the party–wise CST paid on the purchase of goods.

The report displays separate column for tax paid on various tax rates.

Item–Wise Sales CST Summary

Item-Wise Sales CST Summary report displays the item–wise CST collected on the sale of goods. The report displays separate column for tax paid on various tax rates.

Item-Wise Purchase CST Summary

Item-Wise Purchase CST Summary report displays the item–wise CST paid on the purchase of goods.

The report displays separate column for tax paid on various tax rates.

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