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FAQ-13 ( VAT / CST ):

Procedure for Generating VAT Payment Challans

Query

 

What is the procedure for generating VAT Payment Challans provided in Tally.ERP 9?

 

Solution:

 

The payment challans are generated using the Statutory Payment feature while printing the Payment Voucher.

 

Step 1:

 

Recording Payment Voucher in Single Entry Mode using Auto-fill and Auto-Setoff option

 

Go to Gateway of Tally > Accounting Vouchers > F5: payment

Record the payment in Single Entry mode.

·         Press S: Stat Payment button (Alt + S) to display the Statutory Payment Details screen.

·         Select the Type of Duty/Tax as VAT.

·         Set Auto Fill Statutory Payment to Yes to calculate the VAT payable amount automatically.

·         Set Adjust Input VAT for Payment to Yes to set-off the available tax credit against the output VAT dues.

 

 

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Note: Ensure that there are taxable purchase and sales entries in the Company data. This is to automatically set-off the input VAT against output VAT using the Statutory Payment feature.

·         Enter the From and To dates in Period From field.

·         Accept the Statutory Payment sub-screen.

·         The difference between the output VAT and Input VAT gets displayed as payable amount. The input VAT amount will be captured with a negative sign.

Along with input and output VAT ledgers, the other statutory payment ledgers grouped under Current Liabilities can also be selected in the same payment entry. For paying Interest, Late Fees, Penalty etc. select the same as the Type of Payment in Payment Type sub-screen displayed on selecting the current liability ledgers.

·         Set Provide Details to Yes to enter the bank details.

 

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  In the VAT Payment Details screen, provide the bank details. Select the Type of Payment as Not Applicable as VAT and other current liabilities are being paid.

·         Accept the payment voucher.

 

Recording Payment Voucher in Different Scenarios

1.     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. The set Adjust Input VAT for Payment to No.

 

2.     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 and Adjust Input VAT for Payment to Yes.

 

3.     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 the Current Liability ledger the Payment Type sub-screen will be displayed. Select the required Type of Payment and accept the payment entry.

 

Step 2:

 

Printing the Payment Voucher

 

In the alteration mode of payment voucher, press Alt+P (P: Print button) to print the payment voucher in Challan format.

In the Voucher Printing screen, enter the details in the fields provided as per state-specific challan requirements.

Accept the Voucher Printing screen to generate the print preview of Payment Challan.

To print more than 1 copy of Payment Challans for Maharashtra, Jharkhand, Uttar Pradesh and West Bengal, press Alt+C (C: Copies button) and set the Number of Copies as 4 or 3 as applicable. In the Print preview mode, press Page Down key to view all the copies which will be printed. Print the same as and when required.

 
 
 
 
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