VAT

1. HSN Code has been added in the Stock Item Master just after Rate of Duty. (Applicable for Gujarat State Only.)

2. a) Tax Invoice will have a seperate Column to print HSN Code. F12 Configuration is given to activate/inactivate the same. (Default value      is set to Yes). This will be printed only in case of Tax Invoices. (Voucher Type Sales having Tax Invoice set to Yes.)
     b) Tax Invoice Multiple copies Printing is marked as (Original), (Duplicate) & (Triplicate) instead of Original for Buyer, etc.

3. Minor Text changes in Andhra Pradesh Form VAT 200

4. Delhi DVAT 16 -
     a) Minor Text changes
     b) Correction in Box 9.3 (Printing C/f amount even though there is VAT Payable)

5. Dadra & Nagar Haveli, Daman& Diu
     a)Correction in Box 9.2 (Printing C/f amount even though there is VAT Payable)

6. VAT Returns provided for the following States -
     a) Rajasthan - Form VAT 10
     b) Madhya Pradesh - Form 10
     c) Gujarat - Form 201

7. The following new VAT Classifications provided for VAT Returns -
     Rajasthan State

     - Purchases (Lease) @ 1%
     - Purchases (Lease) @ 4%
     - Purchases (Lease) @ 12.5%

    Madhya Pradesh

     - Purchases - Capital Goods @ 1%
     - Output VAT @ 25.3% Special Rate
     - Output VAT @ 28.75% Special Rate
     - Output VAT @ 46% Special Rate
     - Imports - For Resale
     - Imports - For Use or Consumption in Manufacture
     - existing "Imports" TaxClassification has been deactivated

    Gujarat

     - Consignment/Branch Transfer Inward (Mfd. Goods)
     - Consignment/Branch Transfer Outward (Mfd. Goods)
     - Output VAT @ 13% (Sales @ 13%)
     - Output VAT @ 15% (Sales @ 15%)
     - Output VAT @ 16% (Sales @ 16%)
     - Output VAT @ 20% (Sales @ 20%)
     - Output VAT @ 24% (Sales @ 24%)
     - Output VAT @ 25% (Sales @ 25%)
     - Output VAT @ 26% (Sales @ 26%)
     - Output VAT @ 30% (Sales @ 30%)
     - Output VAT @ 38% (Sales @ 38%)
     - Output VAT @ 60% (Sales @ 60%)

     - Input VAT @ 13% (Purchases @ 13%)
     - Input VAT @ 15% (Purchases @ 15%)
     - Input VAT @ 16% (Purchases @ 16%)
     - Input VAT @ 24% (Purchases @ 24%)
     - Input VAT @ 20% (Purchases @ 20%)
     - Input VAT @ 25% (Purchases @ 25%)
     - Input VAT @ 26% (Purchases @ 26%)
     - Input VAT @ 30% (Purchases @ 30%)
     - Input VAT @ 38% (Purchases @ 38%)
     - Input VAT @ 60% (Purchases @ 60%)

8. The following VAT Classifications are activated -
     - Sales - Others
     - For Rajasthan State & Madhya Pradesh State
     - Sale in the course of Export out of India - for Rajasthan State

9. The following flags are created for the purpose of VAT Returns -
    Rajasthan
     - Adjustment against VAT dues
     - Adjustment under Repealed Act
     - Reverse Creidt - Goods disposed off otherwise than by sale
     - Reverse Credit - On switch over option
     - Amount of Tax Deferred

    Madhya Pradesh
     - Amount of Tax Deferred
     - Other Input Tax Credits
     - Reversal of Input Tax Credits

    Gujarat
     - Reverse Tax Credit - Manufactured Goods
     - Tax adjustment towards sale to commission Agent
     - Tax adjustment towards Transfer of Right to use
     - Purchases not qualyfying for Tax Credit

10. The following flags are activated for the purpose of VAT Returns -
    Rajasthan
     - Other Adjustments
     - Adjustments towards purchase of Capital Goods
     - Adjustment towards CST
     - Input Tax Adjustment for Purchases from URDs
     - Goods Sold Returned
     - Purchase Return or Rejected
     - Reverse Credit on Others
     - Tax Adjustment on Capital Goods
     - Tax Adjustment on Lease Transactions

    Madhya Pradesh
     - Adjustment towards Refund Claim
     - Interest Payble
     - Adjustment towards CST
     - Input Tax Adjustment for Purchases from URDs
     - Tax Adjustment on Capital Goods
     - Goods Sold Returned

     Gujarat
     - Reverse Credit on Others
     - Advance Tax Paid
     - Other Adjustments
     - Adjustment towards Refund Claim
     - Interest Payble
     - Adjustment towards CST
     - Tax Adjustment on Capital Goods

TDS

1. Supports printing of TDS challan in dot matrix mode (A4 paper size and above).

SERVICE TAX

1. Service Tax Rate is changed to 12% for all Service Tax Classifications, applicable from 19/04/2006

Note: The service tax rates change from 10% to 12% is now applicable from 18/04/06 and Not 19/04/06. This change has been incorporated in Stat 40.