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ABOUT THIS COURSE

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COURSE DESCRIPTION

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WHAT AM I GOING TO GET FROM THIS COURSE

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PREREQUISITES

TARGET AUDIENCE

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Course Curriculum

Section 1: Create Company,Activate GCC VAT
Lesson Objectives details

On
completion of this lesson, you will be able to understand:



·                   
Create Company



·                   
Activate GCC
VAT in Company Masters



·                   
Activate GCC
VAT from Statutory Features



·                   
Additional
Options for GCC VAT



 

Open Locked
Create Company and Activate GCC VAT in the Company Master details Open Locked
Activate GCC VAT From Statutory Features details Open Locked
Additional Options for GCC VAT details Open Locked
Frequently asked questions
Exam
Section 2: Creating Masters and set GCC VAT Rates
Lesson Objectives details

 



On
completion of this lesson, you will be able to understand how to:



·                   
Create stock
group



·                   
Create stock
items



·                   
Set GCC VAT
rates for stock group and stock item



·                   
Create
Service Ledger



·                   
Create Sale
and Purchase Ledger



 

Open Locked
Creating Stock Group details Open Locked
Creating Stock Items details Open Locked
Creating Service Ledger details Open Locked
Creating Sales Ledger details Open Locked
Creating Purchase Ledger details Open Locked
Frequently asked questions
Exam
Section 3: Creating and Updating Party Ledgers
Lesson Objectives details

On
completion of this lesson, you will be able to:



·                   
Create
Supplier Ledger for GCC VAT



·                   
Create
Customer Ledger for GCC VAT



·                   
Update Party
TRN



·                   
Create GCC
VAT Ledger



·                   
Create
Expense Ledgers for GCC VAT

Open Locked
Create Supplier Ledger for GCC VAT details Open Locked
Create Customer Ledger for GCC VAT details Open Locked
Update Party TRN details

Go to Gateway of Tally > Display > Statutory Reports
> VAT > Update Party TRN.

 

1. Select
the group and the ledger for which you want to update the TRN.

2. In the
Update Party TRN screen, enter the TRN for each party.

F5:
Toggle between Show All and Show Pending. o Show All: Lists all the parties.

 Show Pending: Lists the parties with missing
details, such as country, state, registration type, or TRN.

Once you
have updated the TRN for your parties, you can print the TRN details in your
invoices for filing returns















 

Open Locked
Import Party TRN Details details

1.                 
Go to Display > Statutory Reports > VAT > Update Party
TRN

2.                 
Select All Items in
the Name of Group and Name of Ledger fields in    Select 
Group screen                     and press Enter. The Update Party TRN screen appears.

3.                 
Click Export to
export the information in the MS Excel format.

4.                 
Open the exported
file, specify the TRN details for the parties, and save the file.

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Open Locked
Create GCC VAT Ledger details Open Locked
Create Expenses Ledgers for GCC VAT details Open Locked
Frequently asked questions
Exam
Section 4: GCC VAT Purchases
Lesson Objectives details

On
completion of this lesson, you will be able to:



·                   
Record
Purchase from a Domestic Supplier



·                   
Record
Purchase From an Unregistered Dealer



·                   
Record
Purchase within GCC Countries



·                   
Record
Purchase of Capital Goods



·                   
Record
Purchase Returns



 

Open Locked
Record Purchase from a Domestic Supplier details Open Locked
Record Purchase from an Unregistered Dealer details Open Locked
Record Purchase within GCC Countries details Open Locked
Record Journal Voucher for Reverse Charge Liability details Open Locked
Record Purchase of Capital Goods details Open Locked
Claim Input Credit on Capital Goods Purchase details Open Locked
Record Purchase Returns details Open Locked
Frequently asked questions
Exam
Section 5: GCC VAT Sales
Lesson Objectives details

Lesson
Objectives



On
completion of this lesson, you will be able to:



·                   
Record
Domestic Sales



·                   
Record Sales
to Registered Dealers in GCC Countries



·                   
Record Sales
to Unregistered Dealers in GCC Countries



·                   
Record Sales
of Goods and Services in a Single Invoice



 

Open Locked
Record Domestic Sales details Open Locked
Record Sales to Registered Dealers in GCC Countries details Open Locked
Record Sales to Unregistered Dealers in GCC Countries details

1. Go to Gateway of Tally >
Accounts Info. > Ledgers > Create



2. Type the Ledger Name as Dubai Computer Store



3. In Under, select Sundry Debtors.



4. Enter the Address, and select
Country and Emirate or Region of the supplier.



5. Under VAT Registration Details,



a.                 
Select Registration Type as Unregistered.



b.                 
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Cambria;mso-ha

Open Locked
Record Sales of Goods and Services in a Single Invoice details Open Locked
Record Sales of Taxable and Exempt Items in a Single Invoice details Open Locked
Frequently asked questions
Exam
Section 6: Sales in Accounting Invoice Mode
Lesson Objectives details

Lesson
Objectives



On
completion of this lesson, you will be able to:



·                   
Record Sales
in Accounting Invoice Mode



·                   
Record
Override Tax Details in an Invoice



·                   
Record Sales
with an Additional Ledger



·                   
Record Sales
Return



 Sales
in the Accounting Invoice Mode



When you maintain only accounting transactions (but not the
inventory of your goods), or when your company deals with services, you can use
the accounting invoice mode for recording your local and intra-GCC sales.

Open Locked
Record Sales in Accounting Invoice Mode details Open Locked
Record Override Tax Details in an Invoice details Open Locked
Record Sales with an Additional Ledger details Open Locked
Record Sales Return details Open Locked
Frequently asked questions
Exam
Section 7: Import of Goods and Services & Export Under GCC VAT
Lesson Objectives details

Lesson Objectives



On
completion of this lesson, you will be able to:



·       
Record
Taxable Import of Goods



·       
Record
Journal Voucher for Reverse Charge Liability



·       
Record
Purchase of Services



·       
Record
Exports to a Party in an non VAT-GCC  
Country



·       
Record
Export Sales to a Party Outside GCC Countries



 

Open Locked
Record Taxable Import of Goods details Open Locked
Record Journal Voucher for Reverse Charge Liability details Open Locked
Record Purchase of Services details Open Locked
Record Exports to a Party in a non VAT Implementing GCC Country details Open Locked
Record Export Sales to a Party Outside GCC Countries details Open Locked
Frequently asked questions
Exam
Section 8: Supply on Profit Margin & Transfer of Right to Use & Advances Received Under GCC VAT
Lesson Objectives details Open Locked
Record Sales of Used Goods for Profit Margin details Open Locked
Record Transfer of Right to Use details Open Locked
Record Advances Received from Customer details Open Locked
Record Raise Tax Liability details Open Locked
Record Sales Voucher details Open Locked
Record Reverse the Tax Liability on Advance Receipts details Open Locked
Record Tax Payments details Open Locked
Frequently asked questions
Exam
Section 9: Subsequent Sales
Lesson Objectives details

Lesson
Objectives



On
completion of this lesson, you will be able to:



·                   
Record
Import for Subsequent GCC Transfer



·                   
Record
Reverse Charge Liability



·                   
Record
Subsequent Sales to Intra GCC Customers



·                   
Record
Subsequent Sales to Customers Outside GCC  
Countries



 

Open Locked
Record Import for Subsequent GCC Transfer details Open Locked
Record Reverse Charge Liability details Open Locked
Record Subsequent Sales to Intra GCC Customers details Open Locked
Record Subsequent Sales to Customers Outside GCC Countries details Open Locked
Frequently asked questions
Exam
Section 10: GCC VAT Payments
Lesson Objectives details

Lesson
Objectives



On
completion of this lesson, you will be able to:



·                   
Record Tax
Payments



·                   
Record
Increase Tax Liability



·                   
Record
Decrease Tax Liability



·                   
Record
Increase Tax Liability and Input Tax Credit



·                   
Record Input
Tax Credit

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Open Locked
Record Tax Payments details Open Locked
Record Increase Tax Liability details Open Locked
Record Decrease Tax Liability details Open Locked
Record Increase Tax Liability and Input Tax Credit details Open Locked
Record Increase Input Tax Credit details Open Locked
Record Reversal of Input Tax details Open Locked
Record of Input Tax Credit details Open Locked
Frequently asked questions
Exam
Section 11: GCC VAT Opening Balance and GCC VAT Returns
Lesson Objectives details Open Locked
Record Opening Balance of VAT details Open Locked
Display the VAT Return Report details Open Locked
Resolve All Exceptional at Once details Open Locked
Creating Adjustment Voucher details Open Locked
Save VAT Returns details Open Locked
Recompute the Changes and Save as Revised details Open Locked
Save the Changes and Overwrite Saved Returns details Open Locked
Frequently asked questions
Exam
Section 12: Save the Changes and Overwrite Saved Returns
Lesson Objectives details Open Locked
Export the VAT Return details Open Locked
Export Audit File details Open Locked
View the Tax Payment Reconciliation Report details Open Locked
View the Advance Receipts Summary details Open Locked
View the Reverse Charge Summary details Open Locked
View the Sale on Profit Margin Report details Open Locked
View the Return Transaction Book details Open Locked
Frequently asked questions
Exam

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