Decrease of Input Tax (VAT)
You can record a journal voucher for decrease of input tax.
- 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 Input Tax in the Nature of adjustment field.
- Press Enter to save, and return to voucher screen.
- Debit the CST 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 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 VAT 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 Rate and Assessable Value in the VAT Details screen.
- Press Enter to return to the voucher screen.
- Set the option Provide VAT Details to Yes and enter the From and To dates, else retain the option as No.
Note: The option Provide VAT Details is provided as per state specific requirements of VAT/CST forms and annexures. In this example, Bihar is selected as the State.
- 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 Input Tax available as the Nature of Adjustment are given below:
|
State Name |
Additional Details |
Voucher Entry |
|
Andhra Pradesh |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Assam |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Bihar |
Against CST |
Debit: CST ledger. Credit: VAT ledger or ledger grouped under Current Liabilities. |
|
Chandigarh |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Tax Paid on Unsold Stock |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
|
Chhattisgarh |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Against CST of capital goods |
Debit: CST ledger. Credit: VAT ledger. |
|
|
Dadra and Nagar Haveli |
Against CST |
Debit: CST ledger. Credit: VAT ledger/ledger grouped under Current Liabilities. |
|
Change in Use of Goods, for Purchase Other Than for Which Credit Allowed |
Debit: Purchase ledger. Credit: VAT ledger. |
|
|
Other Adjustments |
Debit: Party Ledger. Credit: Purchase Ledger. Credit: VAT ledger. |
|
|
Delhi |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Change in Use of Goods, for Purchase Other Than for Which Credit Allowed |
Debit: Purchase ledger. Credit: VAT ledger. |
|
|
Other Adjustments |
Debit: Party/expenses ledger. Debit: VAT ledger. Credit: Purchase ledger. |
|
|
Goa |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Set Off Against Excess ITC Under Goa Sales Tax Act |
Debit: Expenses ledger. Credit: VAT ledger. |
|
|
Set Off Against Excess ITC Under Goa Tax on Entry of Goods Act |
Debit: Expenses ledger. Credit: VAT ledger. |
|
|
Set Off Against Excess ITC Under Goa VAT Act |
Debit: Expenses ledger. Credit: VAT ledger. |
|
|
Gujarat |
Against CST |
Debit: CST ledger. Credit: VAT ledger. Credit: Additional tax ledger. |
|
Haryana |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Himachal Pradesh |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Tax Paid on Unsold Stock |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
|
Jammu and Kashmir |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Jharkhand |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Madhya Pradesh |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Maharashtra |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Other Purchase Adjustment |
Debit: Expenses ledger. Credit: CST ledger. |
|
|
Other Purchase Adjustment (Capital Assets) |
Debit: Expenses ledger. Credit: CST ledger. |
|
|
Odisha |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Credit note issued to buyer (excess VAT in sales) |
Debit: Party ledger. Credit: VAT ledger. |
|
|
Puducherry |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Change in Use of Goods, for Purchase Other Than for Which Credit Allowed |
Debit: Purchase/expense ledger. Credit: VAT ledger. |
|
|
Other Adjustments |
Debit: Party/cash ledger. Credit: Purchase ledger. Credit: VAT ledger. |
|
|
Punjab |
Against CST |
Debit: CST ledger. Debit: Surcharge ledger. Credit: VAT ledger. Credit: Surcharge ledger. |
|
Tax not charged by the seller |
Debit: VAT ledger. Debit: Surcharge ledger. Credit: VAT ledger. Credit: Surcharge ledger. |
|
|
Tamil Nadu |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Telangana |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Uttarakhand |
Against CST |
Debit: CST ledger. Credit: VAT ledger or ledger grouped under Current Liabilities. |
|
Refund Claim |
Debit: Refund claim ledger grouped under Current Assets. Credit: VAT ledger. |
|
|
Uttar Pradesh |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
West Bengal |
Against CST |
Debit: CST ledger. Credit: VAT ledger. |
|
Excess Claimed Earlier |
Debit: Purchases/expenses ledger. Credit: VAT ledger. |