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Opus Technology Limited has been developed“OVAS” vat management software as per VAT Acts of National Board of Revenue of the Government of Bangladesh. OVAS process VAT through Purchase and Sales transaction of raw materials and finish goods. This is not only applicable for manufacturing, trading and Service types of organization but also included small organizations. Input &Output Coefficient can be generated from OVAS which make the VAT departments’ people life easy by covering all of VAT requirements in compliance with the guidelines of National Board of Revenue (NBR) in Bangladesh. The National Board of Revenue (NBR) has approved OVAS to be used as VAT software solution in Bangladesh.
Opus Technology Limited become the most important ERP maker company in Bangladesh, become NBR enlisted software Firm to serve the vat management software to the enterprise in the country.
VAT software is a software system used to calculate VAT for any enterprise In Bangladesh, VAT management software used to record all entries related to sales, purchase, inventory, production and payment related entries and then finally generates government prescribed reports.A VAT software also help users to submit final VAT return to the government system (iVAS in Bangladesh) directly. OVAS, a VAT Management software made by Opus Technology Limited as per the rule of National Board of Revenue (NBR) Bangladesh, also approved by the authority. VAT software follows the NBR Guideline fully compliant with VAT & SD Act 2012, as of GO-16/VAT/2019.
Businesses having annual turnover of Tk. 50 million and above will have to procure tailored Value Added Tax (VAT) processing software from NBR selected companies using VAT software Bangladesh to registration for vat is compulsory. When a business registers for vat it becomes responsible for charging vat at the correct percentage on every sales invoice and transfer of goods and services and also maintaining accurate financial accounting records of the vat charged that are subject to vat inspections in Bangladesh. If the sales turnover has breached the vat threshold that business is liable for the vat on sales even if it has not charged the customer in Bangladesh. Specific types of business transactions are exempt from vat such as insurance and loans. If the business only supplies exempt items then the business cannot register for vat to reclaim the input tax paid on purchases. For VAT automation accounting software can use OVAS VAT software Bangladesh. OVAS VAT management software is NBR selected VAT software company in Bangladesh. OVAS is the best VAT management software in Bangladesh.OVAS is very simple flexible and reliable to use. It will make VAT automation process very easy.
OVAS VAT Management software is a new version software in Bangladesh, can cover the below sector for maintaining VAT payments in Bangladesh
|Purchase Module:||Supplier Group, Supplier with detail information and register, Purchase Invoice (Local & Import),Purchase Register (Mushak-6.1), Purchase & Sales Register (Mushak-6.2.1), Purchase Return/Debit Note (Mushak-6.8), Purchaseorder, Purchase Register Report, Return Register Report, and Accounts Payables Report.|
|Sales Module:||Customer Group, Customer with detail information and register, Sales Representative Details, Sales Register (Mushak-6.2), Sales & Purchase Register (Mushak-6.2.1), Sales Invoice (Export, Latent & Local) Mushak-6.3, Sales Return/Credit Note (Mushak-6.7), Sales invoice more than Two Lac (Mushak-6.10), Sales order, Sales Register Report, Return Register Report, Accounts ReceivablesReport.|
|Inventory/Stock Module:||Item creation Group/Category wise, Creation of Locations, Measurement Units, Batch/Log configuration, Production, Stock Transfer (Mushak-6.5), Stock Summary, Location-wise Stock Report, Stock Movement Analysis, Slow Moving & Fast Moving Item Register, Re-order 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), Service Purchase, Service Sales (Mushak-6.3), VAT at source deduction certificate (Mushak-6.6), Credit Note (Mushak-6.7), Debit Note (Mushak-6.8), Trial Balance, Cash Flow Statement, Profit & Loss Account/Income & Expenditure Account, Balance Sheet, Receipt & Payment Account, BankReconciliation Statement, Cost Center.|
|VAT & SD Act-2012: Mushak||Mushak-4.1 (Advance VAT refund Application for import) Mushak-4.3 (Input-Output Coefficient Declaration) Mushak-6.1 (Purchase Register) Mushak-6.2 (Sales Register) Mushak-6.2.1 (Purchase-Sales Accounts for Traders) Mushak-6.3 (VAT Challan) Mushak-6.3 (Service Bill) Mushak-6.5 (Stock Transfer) Mushak-6.6 (VAT at source deduction certificate) Mushak-6.7 (Credit Note for Sales) Mushak-6.7 (Credit Note for Service) Mushak-6.8 (Debit Note for Purchase) Mushak-6.8 (Debit Note for Service) Mushak-6.10 (Purchase & Sales Invoice more than 2 Lac) Mushak-9.1 (Return Submission)|
|Branch-wise VAT Management:||Sales: Sales Register (Mushak-6.2) Sales Invoice (Export, Latent & Local) Mushak-6.3 Credit Note (Mushak-6.7) Purchase: Purchase Invoice (Local & Import) Mushak-6.1 Debit Note (Mushak-6.8) Accounts: Service Sales (Mushak-6.3) Credit Note (Mushak-6.7) Debit Note (Mushak-6.8) Inventory/Stock: Stock Transfer (Mushak-6.5) Branch wise Production.|