Decrease of CST (VAT)
You can create journal vouchers to record decrease in CST value.
- Gateway of Tally > Vouchers > press 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 of CST in the Nature of adjustment field.
- Select the option Rebate in Additional Details field.
- Press Enter to save and return to voucher screen.
- 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 the Debit column.
- Credit the ledger grouped under Indirect Incomes.
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 of CST available as the Nature of Adjustment are given below:
|
State Name |
Additional Details |
Voucher Entry |
|
Bihar |
Rebate |
Debit: CST ledger. Credit: Income ledger. |
|
Delhi |
— |
Debit: CST ledger. Credit: VAT ledger. |
|
Gujarat |
Excess Tax Paid |
Debit: CST ledger. Debit: Additional tax ledger. Credit: Income ledger. |
|
Remission Towards CST |
Debit: CST ledger. Debit: Additional tax ledger. Credit: Income ledger. |
|
|
Kerala |
Advance Tax |
Debit: CST ledger Credit: Ledger grouped under Current Assets. |
|
Himachal Pradesh |
Excess Credit Brought Forward From Previous Return |
Debit: CST ledger. Credit: CST ledger. |
|
Odisha |
Advance Tax |
Debit: CST ledger. Credit: Ledger grouped under Current Assets. |
|
Excess Paid |
Debit: CST ledger. Credit: Income ledger. |