TELANGANA. Statutory Compliance in Tally.ERP 9. Updated On: 30/05/2014. Published By: Tally Solutions Pvt. Ltd.

Transcription

1 TELANGANA Statutory Compliance in Tally.ERP 9 Updated On: 30/05/2014 Published By: Tally Solutions Pvt. Ltd.

2 Contents 1 Company Creation Enabling VAT Providing VAT Details for Party in Ledger Master Printing TIN/CST Number as per date specified For transactions prior to June 2, For transactions on or after June 2, Display of TIN/CST No. on reports For a period prior to June 2, For the period of June 2014 or later...16 Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 1

3 1 Company Creation To create a company located in the state of Telangana, Go to Gateway of Tally > Alt + F3 > Create Company 1. Enter the basic information, i.e., Name, Mailing Name and Address of the company, for e.g., National Traders and its relevant details 2. Select India from the List of Countries in the Statutory compliance for field 3. Select Telangana as the State from the List of States Note: Only when India is selected in the Statutory compliance for field, the List of States will appear for selection. The state-specific VAT Compliance is dependent upon the state selected in this field. However, in case of companies already existing in Tally.ERP 9, VAT can be enabled in F3: Statutory & Taxation features as explained in the next session. 4. Enter the PIN Code, Telephone No., Mobile No., , Currency Symbol 5. Set Enable Auto Backup to Yes or No as per requirement 6. In the Financial Year from and Books beginning from fields, the first day of the current financial year for e.g., will be displayed by default, which can be changed as per requirement 7. Specify the TallyVault Password (if any) 8. Set Use Security Control field to Yes if required 9. Press Y or Enter to save Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 2

4 2 Enabling VAT Go to Gateway of Tally > F11: Features > F3: Statutory & Taxation 1. Set Enable Value Added Tax (VAT) to Yes 2. Enable Set/Alter VAT Details 3. The VAT Details screen is displayed 4. The State selected in the Company Creation screen is displayed automatically. Select the state as Telangana from the List of States if the state is not selected in the Company Creation screen Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 3

5 5. Select the Type of Dealer as Regular 6. In Regular VAT Applicable From field the first day of the financial year as entered in Company Creation screen will be displayed which can be changed as per requirement 7. Under the Additional Information section, enter the relevant details for each field Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 4

6 Note: In the Print Report screen of VAT Forms, the details in the fields - Name, Status/Designation and Place will be displayed as provided in Company VAT Details screen, which can be changed as per requirement. 8. Press Enter to accept the Company VAT Details screen 9. In the Company Operations Alteration screen, enter a. VAT TIN (Regular): This is the new TIN allotted by the VAT Department b. VAT TIN (Regular Prior to 2-June-2014): This is the old TIN allotted by the VAT Department, before the formation of Telangana as a state c. Inter-state Sales Tax Number: This is the new Inter-state Sales Tax Number d. Inter-state Sales Tax Number (Prior to 2-June-2014): This is the old Inter-state Sales Tax Number Note: The old and new TINs and CST Numbers have to be updated for existing companies after upgrading to Stat.900 Version 232. For newly- created companies with the state set to Telangana, the old TIN and CST Number are not applicable. Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 5

7 10. Enter the PAN/Income Tax No. 11. Press Y or Enter to save Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 6

8 3 Providing VAT Details for Party in Ledger Master To create a party ledger (here, a buyer), Go to Gateway of Tally > Accounts Info. > Ledgers > Create 1. Enter the Name of the buyer ledger 2. Select Sundry Debtors as the group name in the Under field 3. Set Maintain balances bill-by-bill to Yes 4. Enter the Default Credit Period if any 5. Enter the Mailing Details and the PAN/IT Number 6. Enable Set/Alter VAT Details 7. In the VAT Details screen that appears, select the Type of VAT Dealer that the party is, and enter the TIN/Sales Tax Number and CST Number. a. TIN/Sales Tax No.: Enter the new TIN provided for Telangana b. TIN/Sales Tax No. (Prior to 2-June-2014): Enter the old TIN here c. CST No.: Enter the new CST number provided for Telangana d. CST No. (Prior to 2-June-2014): Enter the old CST number here Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 7

9 Note: The old TIN and CST Number will be printed on invoices and reports for dates prior to June 2, For invoices and reports printed on or after June 2, 2014, the new TIN and CST Number will be printed. Note: The old and new TINs and CST Numbers have to be updated for existing companies after upgrading to Stat.900 Version 232. For newly- created companies with the state set to Telangana, the old TIN and CST Number are not applicable. 8. Press Enter to return to the Ledger Creation screen 9. Press Y or Enter to save Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 8

10 4 Printing TIN/CST Number as per date specified 4.1 For transactions prior to June 2, 2014 Record a sales invoice for Excel Traders for a date prior to June 2, Voucher entry: The Party Details sub-screen will capture the old TIN and CST Number: Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 9

11 The completed sales voucher appears as shown below: Press Y or Enter to save Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 10

12 Invoice printing: On the sales invoice, the company s old TIN/CST No., and the party s old TIN/CST No. will be printed, as the date is 26 th May 2014: Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 11

13 4.2 For transactions on or after June 2, 2014 Record a sales invoice for Excel Traders for a date after June 2, Voucher entry: The Party Details sub-screen will capture the new TIN and CST Number: Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 12

14 The completed sales voucher appears as shown below: Press Y or Enter to save Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 13

15 Invoice printing: On the sales invoice, the company s new TIN/CST No., and the party s new TIN/CST No. will be printed, as the date is 3 rd June 2014: Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 14

16 5 Display of TIN/CST No. on reports 5.1 For a period prior to June 2, 2014 The VAT Computation report for the period of May 2014 will display the old TIN: Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 15

17 5.2 For the period of June 2014 or later The VAT Computation report for the period of June 2014 or later will display the new TIN: Tally Solutions Pvt. Ltd. Telangana: Statutory Compliance in Tally.ERP 9 Page 16