Month: December 2014

Available new stat 236 from 2nd December, 2014

Posted on by Tally Academy

New Stat.900 Version is available free for existing Tally User

Major Enhancement are :

Vat

Chandigarh :

  • Adhering to the notification, the following new VAT/Tax classifications for 8% and 9.68% VAT rates are introduced, with effect from November12, 2014
    • Purchases @ 8%/ Input VAT @ 8%
    • Purchases @ 8%(Job work)/ Input VAT @ 8% (Job Work)
    • Sales @ 8%/ Output VAT @ 8%
    • Sales – Works Contract @ 8%/ Output VAT – Works Contract @ 8%
    • Interstate Sales @ 8%/ CST@ 8%
    • Purchases @ 9.68%/ Input VAT @ 9.68%
    • Purchases @ 9.68%(Job work)/ Input VAT @ 9.68% (Job Work)
    • Sales @ 9.68%/ Output VAT @ 9.68%
    • Sales – Works Contract @ 9.68%/ Output VAT – Works Contract @ 9.68%
    • Interstate Sales @ 9.68%/ CST@ 9.68%

    Currently, the value of transactions recorded using the aforesaid classifications will be captured only in the VAT Computation report.
    Note: In the forthcoming Stat.900 releases, the functionality will be enhanced to capture the values of entries recorded using VAT/Tax classifications provided for 8% and 9.68% VAT rates in relevant VAT Forms.

Haryana :

  • Adhering to the notification, the following new VAT/Tax classifications for 11.5% VAT rate are introduced, with effect from November 26, 2014:
    • Purchase @ 11.5% Tax Rate/LP-7A-11.5%
    • Sale of Goods to Unregistered Dealers @ 11.5% Rate/LS-9C-11.5%
    • Sale Outside the State (of Purc Outside State) @ 11.5%/LS-1-11.5%
    • Sale in the Course of Inter-State Trade @ 11.5%/LS-2-11.5%
    • Sales @ 11.5% Tax Rate/LS-9A-11.5%

Currently, the values of entries recorded using these classifications are being captured only in the VAT Computation report.
Note: In the forthcoming Stat.900 releases, this functionality will be enhanced to capture the values of entries recorded using VAT/Tax classifications provided for 11.5% VAT rate in relevant VAT Forms.

Kerala :

  • The following VAT/Tax classifications have been provided to support the VAT rate change, with effect from 19 November, 2014:
    • Sales@22.07% (Non VATable) for Diesel
    • Sales@28.72% (Non VATable) for Petrol

    Currently, the values of entries recorded using these classifications are being captured only in the VAT Computation report.
    Note: In the forthcoming Stat.900 releases, the functionality will be enhanced to capture the value of entries recorded using the aforementioned classifications in relevant VAT forms.

Madhya Pradesh :

  • The VAT/Tax class Sales- Composition Tax @ 5% has been provided. The value of entries recorded using this classification is currently captured only in the VAT Computation report.Note: In the forthcoming Stat.900 releases, this functionality will be enhanced to capture the value of entries recorded using this VAT/Tax classification in relevant VAT forms.

Maharashtra :

  • Adhering to the notification, the following new VAT/Tax classifications have been provided to support the new VAT rate of 5% for notified construction contracts.
    • Sales – Composition Tax @ 5% (Construction)
    • Composition Tax @ 5% (Construction)

    Note: In the forthcoming Stat.900 releases, this functionality will be enhanced to capture the values of entries recorded using VAT/Tax classifications provided for 5% VAT rate in VAT Forms.

Mizoram :

  • In adherence to the notification, increase in VAT rate for Cigarettes, Cigar, Cigarillos, and Vaihlo from 13.5% to 20%, the following VAT/Tax Classifications have been provided:
    • Purchases @ 20%/ Input VAT @ 20%
    • Purchases @ 20%(Job work)/ Input VAT @ 20% (Job Work)
    • Sales @ 20%/ Output VAT @ 20%
    • Sales – Works Contract @ 20%/ Output VAT – Works Contract @ 20%
    • Interstate Sales @ 20%

    Currently, the values of transactions recorded using the aforesaid classifications will be captured only in the VAT Computation report.
    Note: In the forthcoming Stat.900 releases, this functionality will be enhanced to capture the value of entries recorded using VAT/Tax classifications provided for 20% VAT rate in VAT Forms

 

Punjab :

  • To support the increase in VAT rate from 8.25% to 11.25% on diesel other than premium diesel under Schedule E, the following VAT/Tax classifications have been provided:
    • Purchases @ 11.25%/Input VAT @ 11.25%
    • Sales @ 11.25%/Output VAT @ 11.25%
    • Purchases from URDs Taxable @ 11.25%/ Purchase Tax @ 11.25%

Tamil Nadu :

  • To support the increase in VAT rate from 20% to 30% the following VAT/Tax classifications have been provided with effect from November 1, 2014:
    • Purchases @ 30%/Input VAT @ 30%
    • Sales @ 30%/ Output VAT @ 30%

    Note: In the forthcoming Stat.900 releases, this functionality will be enhanced to capture the values
    of entries recorded using VAT/Tax classifications provided for 30% VAT rate in VAT Forms.

And more….