Decrease in Sales (VAT)
You can record a journal voucher for decrease in sales.
- Gateway of Tally > Vouchers > F7 (Journal).
Alternatively, press Alt+G ( Go To) > Create Voucher > press F7 (Journal).
Note: You can create a journal voucher from Gateway of Tally > Display More Reports > VAT Reports > select the VAT or CST form.
- Press Alt+J (Stat Adjustment). In the Stat Adjustment Details screen,
- Select the option VAT in the Type of duty/tax field.
- Select the option Decrease in Sales in the Nature of adjustment field.
- Press Enter to save and return to voucher screen.
- Debit the interstate sales ledger.
As in other transactions, you can create the ledger on the fly by pressing Alt+C. Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger > and press Enter. - Enter the amount in the Debit column.
- Debit the CST ledger.
- Enter the Rate and Assessable Value in the VAT Details screen.
- Press Enter to return to voucher screen.
- Enter the amount in Debit column.
- Credit the interstate sales ledger predefined with the nature of transaction Interstate Sales Exempt.
As in other transactions, you can create the ledger on the fly by pressing Alt+C. Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger > and press Enter. - Set the option Provide VAT details to Yes and enter the From and To dates, else retain it as No.
- Enter Narration, if required. The journal voucher appears as shown below:
- Accept the screen. As always, you can press Ctrl+A to save.
The states with Decrease in Sales available as the Nature of Adjustment are given below:
|
State Name |
Additional Details |
Voucher Entry |
|
Bihar |
— |
Debit: Sales ledger with nature of transaction provided for taxable interstate sales. Debit: CST ledger. Credit: Sales ledger with nature of transaction Interstate Sales Exempt. |
|
Gujarat |
— |
Debit: Sales ledger with nature of transaction provided for taxable interstate sales. Credit: Sales ledger with nature of transaction Interstate Sales Exempt. |
|
Jharkhand |
Sales Outside the State |
Debit: Sales ledger with nature of transaction provided for taxable interstate sales. Credit: Sales ledger with nature of transaction Interstate Sales Exempt. |
|
Maharashtra |
Deduction U/s 6A of Earlier Law (On Going) |
Debit: Sales ledger with nature of transaction Sales – Works Contract – Ongoing. Debit: VAT ledger Credit: Sales ledger with nature of transaction Sales Exempt – Works Contract – Ongoing. |
|
Punjab |
— |
Debit: Sales ledger with the nature of transaction Interstate Sales – Against Form C. Debit: CST ledger. Credit: Sales ledger with the nature of transaction Interstate Sales – Exempt. Credit: Branch/division ledger. |
|
Uttar Pradesh |
— |
Debit: Sales ledger with nature of transaction provided for taxable interstate sales. Credit: Sales ledger with nature of transaction Interstate Sales Exempt. |