Title of the previous Act is Value Added Tax Act, 1991. But the title of the present Act is Value Added Tax and Supplementary Duty Act, 2012. Under the VAT system of Bangladesh, three taxes are collected; namely: Value Added Tax (VAT), Supplementary Duty (SD) and Turnover Tax (TT). The same is true with both the Acts.

Under the VAT system of Bangladesh, three taxes are collected; namely: Value Added Tax (VAT), Supplementary Duty (SD) and Turnover Tax (TT). The same is true with both the Acts. So, the Parliamentary Standing Committee on the Ministry of Finance felt that it is necessary to add Supplementary Duty with the title of the new Act. The Value Added Tax and Supplementary Duty Act, 2012 has a wider base compared to the previous one. This Act imposes VAT at import stage, production stage, trading stage, on rendering of services and on import of services and on immovable property, lease, grant, license, permit, rights, facilities etc. Thus the base of VAT has been expanded. In the Value Added Tax Act, 1991, VAT was imposed on imports, production, trading and services. Price declared by the VAT-payers and approved by the VAT authorities was the basis of VAT under the Value Added Tax Act, 1991 in most of the cases but under the new Act transaction value will be the basis for imposition of VAT. This will be in conformity with the best international practices. The new Act has abolished the provision of declaring prices of the goods and getting it approved by the VAT authorities. Instead, it stipulates maintenance of input-output co-efficient by the VAT-payers on the basis of which audit will be done later by the VAT authorities. Submitting price declaration and getting it approved by the VAT Divisional Officer is a major difficulty to the VAT payers presently, which has been done away with under the new law.

Yes. You can maintain general accounts & inventory in Troyee VAT Management Software including all financial statements.

Modules in Troyee VAT Management Software are: Purchase, Sales, Inventory and  Accounts.

(You can see detail features of these modules in screen-shots kept in this site).

As per norms of  VAT & SD Act. 2012, features of different modules are as follows:

Purchase Module: Supplier Group, Supplier with detail information and register, Purchase (Local), Purchase (Import), Purchase Register (Mushak-6.1), Purchase Return/Debit Note (Mushak-6.8), Purchase invoice more than Two Lac (Mushak-6.10), VAT at source deduction certificate (Mushak-6.6), Purchase Register, Return Register, Accounts Payables.

Sales Module: Customer Group, Customer with detail information and register, Sales Representative Details, Sales Invoice, Sales Register (Mushak-6.2), VAT challan (Mushak-6.3) Accounts Receivables, Sales Return/Credit Note (Mushak-6.7), Sales invoice more than Two Lac (Mushak-6.10)

Inventory/Stock Module: Item creation (with code) Group/Category wise, Creation of Locations, Measurement Units, Issue Subcontract (Mushak-6.4), Batch/Log configuration, Stock Transfer (Mushak-6.5), Stock Summary, Location-wise Stock Report, Stock Movement Analysis, Slow Moving & Fast Moving Item Register, Re-order Level & Minimum Level, Out of Stock Register, Item-wise Profitability, Store Ledger, Batch Report.

Accounts Module: Ledger, Day Book, Cash Book, Bank Book, Group Summary, VAT Return (Mushak-9.1), Treasury Challan (TR Form 6), Service bill (Mushak-6.3), Credit Note for Service (6.7), Diplomatic or International organization tax refund application (Mushak-10.1), Trial Balance, Cash Flow Statement, Trading Account, Profit & Loss Account/Income & Expenditure Account, Balance Sheet, Receipt & Payment Account, Bank Reconciliation Statement, Budget & Variance, Cost Center.

Yes. All reports are there.

According to VAT & SD Act-2012, you will get the following reports in Troyee VAT Management Software:

1. Mushak-4.1 (Advance VAT refund Application for import)
2. Mushak-6.1 (Purchase Register)
3. Mushak-6.2 (Sales Register)
4. Mushak-6.3 (VAT Challan)
5. Mushak-6.3 (Service Bill)
6. Mushak-6.4 (Issue Subcontract)
7. Mushak-6.5 (Stock Transfer)
8. Mushak-6.6 (VAT at source deduction certificate)
9. Mushak-6.7 (Credit Note)
10. Mushak-6.7 (Credit Note for Service bill)
11. Mushak-6.8 (Debit Note)
12. Mushak-6.10 (Purchase & Sales invoice more than Two Lac)
13. Mushak-9.1 (Return Submission)
14. Mushak-10.1 (Diplomatic or international organization tax refund application)
15. Mushak-18.1 (Application for VAT Agent Certificate)
16. Mushak-18.2 (Application form for certified copies of documents)
17. Mushak-18.3 (Application for VAT clearance certificate)

You can print the same Mushak for multiple times. First one would the “ORIGINAL”.

Next time, there will be a print of “Onulipi” (Duplicate) text beside the Mushak number.

No, you can’t edit or delete any entry.

In case of wrong entry, you will have to make rectification/reverse entries by Debit note/Credit Note or Journals.

Troyee-VAT Management Software is suitable for all kind of Trading, Manufacturing and Service providing companies.

Business segments coverage is :

• Advertising Firm
• Automobiles
• Bricks Field
• Chemicals Industries
• CNG Filling Station
• CNG-LPG
• Construction & Real Estate
• Consultancy/Service Provider
• Co-operative Socity
• Cotton Mills
• E-Commerce Business
• Educational Institute
• Electronics
• Flour Mills
• Food Industries
• Freight Forwarder
• Furniture
• Garments & Textile
• Hotel & Restaurants
• Leather Industries
• Manufacturing
• NGO
• Pharmaceuticals
• POS
• Poultry Feed
• Sanitary, Tiles & Ceramics
• Security House
• Spinning Mills
• Sportswear
• Steel Mills
• Telecommunications
• Tours & Travelling
• Trading
• Transport Service
• Hardware & Networking Business

The price varies according to the requirements. 

So, once the requirements are discussed price fixation may done instantaneously.