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VAT Entries in Tally UAE -GCC VAT Payments

Tally Solution

By Admin, on Tue Aug 03 2021

VAT Entries in Tally UAE -GCC VAT Payments

You can record a payment made to the GCC VAT authorities using a payment voucher. Other payments made to the authorities, such as interest and penalty, can also be recorded using this voucher - Tally UAE

1. Go to Gateway of Tally > Display > Statutory Reports > VAT > VAT 201 .

2. Click S : Stat Payment . In the Stat Payment Details screen.

3. Retain or change the Period From and To dates.

4. Select the Payment Type . The Stat Payment Details screen appears as shown below:

VAT Entries in Tally UAE

5. Accept the screen.

6. Select the bank ledger.

7. Select the VAT ledger. The payable amount appears automatically.

8. Select the other ledgers, as required. To make payments for interest or penalty, select the ledgers that were created to account for these dues. Ensure that these ledgers are grouped under Direct Expenses , Indirect Expenses , or Current Liabilities .

9. Select the type of payment to be made to the GCC VAT authorities.

VAT Entries in Tally

10. Enter relevant details in the Bank Allocations screen, and press Enter .

VAT Entries in Tally Dubai

11. Accept the voucher.

Similarly, you can record other tax payments to be made to the VAT authorities.

Reference: Tally Solution Mena

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