Available new stat 177 from 30th July, 2012

• For the revised VAT rates of 5.5% and 14.5%, the following VAT/Tax Classifications are provided effective from August 1, 2012:

VAT/Tax Classifications for Purchases/Input VAT

• Input VAT @ 5.5% / Purchases @ 5.5%
• Input VAT @ 14.5% / Purchases @ 14.5%
• Input VAT – Works Contract @ 5.5% / Purchases – Works Contract @ 5.5%
• Input VAT – Works Contract @ 14.5% / Purchases – Works Contract @ 14.5%
• Purchases – Capital Goods @ 5.5%
• Purchases – Capital Goods @ 14.5%
• Purchase Tax @ 5.5%
• Purchase Tax @ 14.5%
• Purchase From URDs – Taxable Goods @ 5.5%
• Purchase From URDs – Taxable Goods @ 14.5%
• Input Tax Credit on Purchase From URDs @ 5.5%
• Input Tax Credit on Purchase From URDs @ 14.5%

VAT/Tax Classifications for Sales/Output VAT

• Output VAT @ 5.5% / Sales @ 5.5%
• Output VAT @ 14.5% / Sales @ 14.5%
• Output VAT – Works Contract @ 5.5% / Sales – Works Contract @ 5.5%
• Output VAT – Works Contract @ 14.5% / Sales – Works Contract @ 14.5%

VAT/Tax Classifications for Interstate Transactions

• Interstate Purchases @ 5.5%
• Interstate Purchases @ 14.5%
• CST @ 5.5% / Interstate Sales @ 5.5%
• CST @ 14.5% / Interstate Sales @ 14.5%

The value of entries recorded using the aforesaid classifications will be currently captured only in VAT Computation report.

Note: In the forthcoming Stat.900 releases, the functionality will be enhanced to capture the value of entries recorded using VAT/Tax classifications provided for 5.5% and 14.5% VAT rates in VAT Forms.

Excise for Manufacturers : 

Release details of Stat900 version 177 (PDF file)