Step-by-step guidance to implement cess on cigarettes are as under: –1. Go to Stock Master.2. Click F11 : Configurations.3. Click on ‘Inputs Part-IV’.4. Select Yes against the prompt “Compensation Cess per unit Required”.5. Entere necessary details of the account head.6. Save the master.7. To mention Cess (%), edit stock account again.8. Click on “F4: Edit… Continue reading How to implement Cess on Cigarettes ?
How should we treat high seas sales in GST returns ?
Position w.e.f. 1st Feb, 2019: –High Sea Sales should be treated as ‘NO SUPPLY’ keeping in view the amendment in Schedule-III by the CGST Amendment Act, 2018. High Sea Sales were included in Schedule-III (Activities/ Transactions which shall not be treated as Supply of Goods or Services) by this amendment. Hence rule 42 / rule… Continue reading How should we treat high seas sales in GST returns ?
How do we handle Purchase Tax in VAT Return (Punjab) where goods are resold or tax free goods are manufactured ?
In case of purchases liable to Purchase Tax, the following procedure should be adopted: – 1. Pass a journal entry to create Purchase Tax liability as shown in pic 1. After passing this entry, the amount of Purchase Tax shall become recoverable as and when taxable goods are manufactured or goods are resold. 2. When… Continue reading How do we handle Purchase Tax in VAT Return (Punjab) where goods are resold or tax free goods are manufactured ?
How do I enter purchases with quantity which are subject to reverse charge u/s 9(3) e.g. cashew nuts ?
All purchases / inward services which are subject to reverse charge u/s 9(3) should be entered in data form meant for this purpose. To enable quantity column in this dataform, go to GST Docs -> Purchases / Inward supplies, press F11 to open settings and select “Yes” against the setting “Show quantity column in reverse… Continue reading How do I enter purchases with quantity which are subject to reverse charge u/s 9(3) e.g. cashew nuts ?
How do I change GST Rate of an Item w.e.f. a specific date ?
See video for details: –
How can we merge Head/Branch Office data to make GST Return ?
Step-by-step guidance to merge data is given below: – 1. Start GST Return in Main/Head Office and click on ‘F11 : Configurations’.2. Select ‘Yes’ against ‘Merge Branch Data’ setting in General tab.3. Go to House Keeping -> Firm Setup and fill branch code. Branch code should be unique for each branch / head office. 4.… Continue reading How can we merge Head/Branch Office data to make GST Return ?
How can we edit GSTR-9 figures in Visual Catpro and get a report thereof ?
After preparing GSTR-9, you may edit GSTR-9 by clicking on “Edit GSTR-9” button (see pic 1). You will see all figures in yellow background. You may double-click on any yellow cell to edit that cell / row. You will see a window where modifications can be done. You may specify details of modifications in multiple… Continue reading How can we edit GSTR-9 figures in Visual Catpro and get a report thereof ?
How can I transfer pending Advance Receipts (on which GST was paid) from previous year ?
Step-by-step guidelines are as under: – 1. Login in current financial year.2. Goto GST Docs -> Advance Receipts.3. Click on F5: Others -> Update pending entries from previous year.
How can I see entries marked for annual return ?
When you make GST Return, entries marked for annual return are ignored by default. If you want to see the entries marked for annual return, you may choose ‘Annual Entries Only’ (see pic 1). You may also opt for the option ‘Include Annual Entries’ to see GST Return of the relevant period along with Annual… Continue reading How can I see entries marked for annual return ?
How can I reconcile Sales in Trading A/c with GST Return ?
An option to make reconciliation statement of GST Return with Sales is available in GSTR-1 -> F7: Others -> Reconciliation Report (Sales) (see pic 1).