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Enhancements

Composite VAT

Gujarat

 For Composite Dealers involved in the Works Contract, a new VAT/Tax

Classification "Work Contract - Composition Tax @ 0.6%" is introduced applicable from 17th August, 2006. The Transactions with this classification will be captured in VAT Return Form 216.

VAT/CST India

Gujarat

An additional field "Addl. Tax Exempted ?' is provided in the Stock Item Master Creation for Items subject to Additional Tax under CST Act. If the option is set to"No' Additional tax will not be computed for that item.

Functionality Enhancements are done to the VAT Form 201 to capture the values in the respective Boxes.

Maharashtra

 As per the VAT notification dated 14th March, 2008, the VAT Form 221 is discontinued and a new VAT Form 231 is introduced.

Uttarakhand

 As per the Government Notification issues on 31March 2008, the following new

VAT classifications are provided for items, which are charged at the CST Rates for

Local Purchase and Sale, effective from 1st April, 2008.

° Output VAT @ 3% - for Sales @ 3%

° Output VAT @ 2% - for Sales @ 2%

° Input VAT @ 3% - for Purchases @ 3%

° Input VAT @ 2% - for Purchases @ 2%

 The VAT Return Form III captures the transactions carried using these classifications.

Service Tax

 As per the Finance bill on 10th May, 2008, following new Service Category's are added to the STAT Master under the List of Service Category effective from

16/05/2008:

° Information Technology Software Service

° Management of Investment in ULIP

° Recognized Stock Exchange Service

° Recognized or Registered Association Service

° Processing and Clearing House Agent Service

° Supply of Tangible Goods Service

The Service Category Internet Telephony Service is renamed to Internet

Telecommunication Services.

 The Sales Transactions subjected to Service Tax, passed using a Journal Voucher will be captured in the ST3 Return Form.

 The transactions pertaining to Service Tax, entered using the Credit Notes will be captured in ST3 Return Form.

Issues Resolved

Composite VAT

Gujarat

 The Print Configuration screen does not shows the default period for the VAT

return Forms 202 and 216.

This issue has been resolved and the Print Configuration screen shows the correct period for Quarterly VAT Return Forms 202 and 216 for the Composition dealers.

VAT/CST India

Delhi

 The value of Tax Amount displayed in the print preview mode is different from that printed in Box No. 4c of Form 1 of the CST Return for Delhi.

This issue is now resolved and the same value of Tax Amount appears in print preview mode and the printed return form.

Gujarat

 The CST amount paid during the previous month was displayed in Column 11 of the CST Return for the subsequent month in the State of Gujarat.

This issue is now resolved and the CST amount paid is not captured in Column 11

of the CST Return for the subsequent month.

 When an inter state sales return entry is passed the value of goods and the tax amount were not captured in the Calculation of Central Sales Tax.

This issue is now resolved and the inter state sales return values are captured in the Calculation of Central Sales Tax.

Karnataka

 While printing four copies of the Tax Invoice, each copy of the Invoice was captioned as Original, Duplicate, Triplicate and Quadruplicate.

This issue is now resolved and the invoice copies are captioned as Original - Buyer's Copy, Duplicate - Seller's Copy, Triplicate - Transporter's Copy and Quadruplicate œ "Extra Copy' and any other additional copy will have "Extra Copy' caption.

Kerala

 When an interstate sales entry is passed, only tax amount was captured in column 14 of Form 8.

This issue is now resolved and the Total Invoice amount for inter-state Sales transaction is captured in column 14 of Form 8.

 In VAT Form 8, Column 12, the Net taxable value was displayed twice. In Form

8B, Column 10, the Grand Total was displayed twice. These issues are resolved.

Punjab

 When an entry is passed for the Purchase of Capital Goods from a Taxable or a Registered Dealer, the purchase value is captured in both Exempted and Taxable column of VAT FORM 24.

This issue has been resolved and the purchase value of Capital Goods is captured only in the Taxable Column of VAT Form 24.

 In case of multiple Purchases from the same Supplier for items taxable at single

VAT rate, the VAT Annexure 24 captured the details in multiple lines.

This issue is resolved and now the VAT Annexure 24 displays the sum total of turnover at respective VAT rates in one line.

Rajasthan

 The Part - II of VAT Form 8 is exported correctly in Excel format.

Uttar Pradesh

 When a sales voucher inclusive of VAT voucher class is recorded with multiple items falling under the same VAT rate. The value of the first item is captured in Taxable Values of Goods column.

This issue is now resolved and invoice value is captured in Taxable Values of

Goods column.