Click...Order Now ! Click....Book Contents ! Click....Book Contents ! Click....Book Contents ! Click....Book Contents ! Click...Order Now ! Click....Book Contents ! Click....Book Contents ! Click...Order Now ! Click...Order Now ! Click....Book Contents ! Click...Order Now ! Click...Order Now ! Click....Book Contents !

'Practical Exercise under VAT @ VAT Tally.ERP 9

Create a new company called Aman Motors, an Automobile dealer and also a manufacturer of Automobile Spare parts. Create the following masters and VAT related transactions:

 

i. Party Ledgers

 

Ledger

Under

Maintain balances bill-by-bill

Inventory values are affected

Used in VAT Returns

Jyoti Automobiles

Sundry Creditors

Yes

No

No

Joy Autos

Sundry Creditors

Yes

No

No

Susmit & Son's

Sundry Creditors

Yes

No

No

Impact Automation

Sundry Debtors

Yes

No

No

Purchases @ 4%

Purchase Accounts

No

Yes

Yes

Sales @ 4%

Sales Accounts

No

Yes

Yes

 

ii. VAT Ledgers

 

Ledger

Under

Type of

Duty/Tax

VAT/Tax Class

Input VAT @ 4%

Duties & Taxes

VAT

Input VAT @ 4%

Output VAT @ 4%

Duties & Taxes

VAT

Output VAT @ 4%

Input VAT @ 12.5%

Duties & Taxes

VAT

Input VAT @ 12.5%

 

 

iii. Stock Items

 

Item

Under

Units

Opening

Balance

Rate

Rate of

VAT (%)

Honda Bikes

Two Wheelers

Nos

2 nos

50000

4

Honda Moped

Two Wheelers

Nos

4 nos

30000

4

Honda Engine Crank

Two Wheelers

Nos

5 nos

4000

12.5

Vertical Honing machine

Assets

Nos

Nil

Nil

4

 

 

Enter the following Transactions

 

S.No

Date

Particulars

1.

5-6-09

Purchased  from  Jyoti  Automobiles  Bangalore.  Vide  bill  no.  JA-001, Honda Bikes 10 nos at Rs. 65000 each & Honda Moped 20 nos at Rs.

32000 each, VAT @ 4% was charged additionally.

2.

7-6-09

Sold to Impact Automation Bangalore, Honda Bikes 2 nos at Rs. 75000 & Honda Moped 4 nos at Rs. 45000, all items attract 4% VAT.

3.

12-6-09

Jyoti Automobiles returned 1 no. Honda Bike to Aman Motors

4.

19-6-09

Purchased Honda moped 15 nos. at Rs. 30000 each from Unregistered dealer Joy Autos vide Bill No. JY-005

5.

26-6-09

Aman Motors purchased Vertical Honing Machine at Rs. 1872000 (VAT

@ 4%) from Susmit & Son's. Vide bill no. SS-022. On 26-5-09 Tax author- ities allowed a tax credit of Rs. 60000 to be set-off in 12 monthly instal- ments.

Hint: Enter the above entry in three transactions, first capitalize the full value in purchase voucher then pass a journal entry for the input credit allowed and finally pass a journal entry for claiming the instalment for the month.

 

S.No

Date

Particulars

6.

30-6-09

Local Purchases of 10 nos Honda Engine crank at Rs. 4000 each from

Somitel Motors and Input VAT of 12.5% was applicable. Vide bill no. SM-

033 These goods were transferred to a branch outside the state i.e to the Raipur Branch. (Remember being a manufacturing company upto 4% of Input VAT is disallowed)

Hint: Enter the above entry in three transactions, first pass a local pur- chase voucher then enter a sales invoice for Branch Transfer and finally pass the journal entry for Adjustment of Input credit on Transfers Outward

7.

30-6-09

Pass the VAT Adjustment Entry.

 
 
Disclaimer:

The names of Companies and persons used in this Website have been used for illustrative purposes only.
The visitors may visit www.tallysolutions.com , the web site of Tally Solutions Pvt. Ltd. for resolving their doubts or for clarifications

Trademark :

Tally, Tally 9, Tally9, Tally.ERP, Tally.ERP –9, Tally.Server 9, Tally.NET & Power of Simplicity are either registered trademarks or trademarks of Tally Solutions Pvt. Ltd. in India and/or other countries. All other trademarks are properties of their respective owners.This Website is not associated with any product or vendor mentioned in this Website.

GETTINGS STARTED @ Tally.ERP 9
QUESTIONS BASE @ Tally.ERP 9
REPORT GENERATES @ Tally.ERP 9
TIPS & TRICKS @ Tally.ERP9 GST for Tally.ERP9
1 > Financial Statement Report 1 > Tips & Tricks @ Tally.ERP 9 1 >Introduction to GST ( IGST . CGST, SGST )
2 > Accounts Book & Register Report 2 > FAQ's @ Tally.ERP 9 2 >Calculation of GST ( IGST, CGST & SGST)
3 > Stock Register / Reports 3 > Short Cut Keys @ Tally.ERP 9 3 > GST on Tally.ERP 9 ( With Practical Assignment )
4 > Job Costing Reports 4 > Tips-Weekly Refresher @ Tally.ERP9 4 > Generate GSTR-1 Returns / Reports under Tally.ERP9
5 > Pay Roll Register Reports   5> Status Reconciliation (GSTR-1)
6 > Point of Sale Register Reports   6 > Challan Reconciliation Report for GST Payments
     
  8 > Excise - Manufacturer      
  9 > Technology / Utilities      
 
SWAYAM EDUCATION
Mandal Bagicha, Hemkapada,
Sunhat, Balasore-756002 ( Odisha )-India
eMail ID : tallyerp9bookorder@gmail.com
Web : www.tallyerp9book.com
Mob : 09437264738
Get Updated ...
Website Designed, Hosted, Owned by : www.BalasoreCity.Com