Thursday, July 5, 2012

How to Submit AP VAT e- Returns Eg: 2 (

XYZ Company May 2012 Purchases
5% Purchase - Rs.54,600  (Basic Value: Rs.52,000 + 5% VAT: Rs.2,600)
14.5% Purchase - Rs.20,610 (Basic Value: Rs.18,000 + 14.5% VAT: Rs.2,610)
XYZ Company May 2012 Sales
5% Sales - Rs.94,500  (Basic Value: Rs.90,000 + 5% VAT: Rs.4,500)
14.5% Sales - Rs.17,175 (Basic Value: Rs.15,000 + 14.5% VAT: Rs.2,175)
 Now you can calculate May Month VAT Returns as follows:
VAT Input:
5% Input VAT -            Rs. 2,600
14.5% Input VAT -       Rs. 2,610
Total Input Tax Value: (Rs.2,600+Rs.2,610) = Rs. 5,210
VAT Output:
5% Output VAT -      Rs. 4,500
14.5% Output VAT - Rs. 2,175
Total Output Tax Value: (Rs.4,500+Rs.2,175) = Rs. 6,675
Total Input Tax - Total Output Tax (Rs.5,210-Rs.6,675) + Previous Month Input Credit (Nil)  =  
- Rs.1465 (Negative value)
Nagative value means you can pay Tax Rs.1465 to Sales Tax Dept.
 How to Submit AP VAT e- Returns for the above Eg: 2 

Open APCT website (Click here)
Enter your TIN & PW
Select "RETURNS" Tab then Click on "VAT RETURNS"

Select the Return Month "May"
Enter "0" Input Tax Credit from Previous month.
 Enter Rs.52,000 on the Sl.No.4, The ITC Claimed will come atomically (Rs. 2600)
 Enter Rs.18,000 on the Sl.No.5, The ITC Claimed will come atomically (Rs. .2,610)
You can see Total Amount of Input Tax Rs.5,210

Enter Rs.90,000 on the Sl.No.7, The VAT Due in will come atomically (Rs.4,500)
Enter Rs.15,000 on the Sl.No.8, The VAT Due in will come atomically (Rs.2,175)
You can see Total Amount of Output Tax Rs.6,675

Now you can see VAT Net Tax Payable (After Adjustment) Rs.1,465
Click on Approve button, then click on Submit button

Click Here For More VAT Returns Examples

More Use Full Links for AP VAT
5% Taxable Goods
Zero-Rated and Eligible for Input Tax Credit
List of Goods exempt from Tax under Section 7
List of goods taxable @ 1%
Goods subjected to tax at special rates
Goods Taxable at Standard Rate (RNR) of 14.5 %


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