Frequently Asked Questions

As per order issued by the National Board of Revenue (NBR) in September 2018, businesses having annual turnover of Tk 50 million and above will have to use VAT processing software from selected software companies. NBR, has picked 11 companies from 27 applicants for selecting the customised software for businesses which are known as VAT Management Software.

VAT Management software developed by BEST BUSINESS BOND LTD. is named as Troyee VAT Management Software. It has been developed based on both VAT Act 1991 and 2012.

Title of the previous Act is Value Added Tax Act1991. But the title of the present Act is Value Added Tax and Supplementary Duty Act2012. 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. All configurations, entry norms and reporting are as per specifications of NBR.

Yes. Troyee VAT Management Software supports multiple branch configuration and can be work as true online in Wide Area Network (WAN) environment. 

Integration with any other software is possible through API integration.

Yes. Data may be imported from an existing software to Troyee VAT Management Software and vice versa.

In Troyee VAT Management software configurations, entries and other operations are in English; only VAT reports are in Bangla as per NBR formats.

User access control in the software is very strong and wide. You can configure access of the users as their  role. In addition, software will keep a track for administrator in Audit Trail.

As decided, respective authority of NBR authority will keep an access in the software to monitor the operations.

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).

Yes. You can set production/manufacturing formula and can manufacture finished goods. Alternatively, if production formula do not work, you can consume raw materials against production of finished goods. You will also be able maintain wrok-in-progress (WIP), wastage/damage during production process.

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 ModuleCustomer 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)

Yes, it is possible to add additional field or column in the the reports but must without violating guidance of NBR.

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
• 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
• Pharmaceuticals
• Poultry Feed
• Sanitary, Tiles & Ceramics
• Security House
• Spinning Mills
• Sportswear
• Steel Mills
• Telecommunications
• Tours & Travelling
• Trading
• Transport Service
• Hardware & Networking Business

By configuring security options like 2FA, time restriction, IP restriction, role based access etc. this software can be restricted from any kind of software hacking.

The price varies according to the requirements. 

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

NBR has made mandatory to maintain the server in your office location. In addition, you may maintain a cloud storage with access permission to the NBR authority.

Troyee VAT Management Software stands Windows platform, Front End is, Database is MS-SQL and Crystal Reports for reporting.

Troyee VAT Management Software is developed on the architecture of Troyee-Enterprise Software. So it has all the features of an ERP solution and additionally VAT management module.