(IND) Post VAT deferment amounts before settling transactions [AX 2012]

Updated: November 5, 2012

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2

NoteNote

This topic has not been fully updated for Microsoft Dynamics AX 2012 R2.

You must post the VAT deferment amount from the VAT deferred account to the VAT recoverable account before settling amounts to the tax authorities. You can process the VAT deferment amounts only for the same tax ledger posting group, for a Tax Identification Number (TIN), for a particular tax settlement period, and for a given period range.

NoteNote

This process is sometimes referred to as the presettlement process.

  1. Click General ledger > Periodic > India > VAT deferment.

  2. Select the TIN of the company in the Tax Identification Number (TIN) field.

  3. Select the settlement period to run the presettlement for in the Tax settlement period field.

  4. Enter the starting date in the From date field to run the presettlement process for transactions for a specific period.

  5. Enter a transaction date to post the voucher for the specific period in the Transaction date field.

  6. Click Show data to view the following details for the selected settlement period for the date range:

    • The starting date of the settlement period starting date.

    • The ending date of the settlement period.

    • The opening balance for the period.

    • The total recoverable value for the period.

    • The amount transferred to the recoverable account.

    • The closing balance for the period.

  7. Click Deferment lines to open the VAT deferment transactions form.

  8. Click the Overview tab and view the details of the posted VAT transactions.

    NoteNote

    The Mark check box is selected for the transactions that are selected for transfer.

  9. View the amount transferred to the VAT recoverable account in the Transfer amount field.

  10. Click Post to post the value in the Transfer field from the VAT deferment account to the VAT recoverable account, and to generate a voucher.


Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).

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