Increase of Output Tax (VAT)
You can create a journal voucher for the increase in output 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 Increase of Output Tax in the Nature of adjustment field.
- Select the option Advance Tax in Additional Details field.
- Press Enter to save and return to the voucher screen.
- Debit the ledger grouped under Current Liabilities.
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.
- 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 voucher screen.
- Set the option Provide VAT Details to Yes, and enter the relevant details.
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 Increase of Output Tax available as the Nature of Adjustment are given below:
|
State Name |
Additional Details |
Voucher Entry |
|
Assam |
— |
Debit: Income/sales ledger. Credit: VAT ledger. |
|
Bihar |
Advance Tax |
Debit: Ledger grouped under Current Liabilities. Credit: VAT ledger. |
|
Chandigarh |
Not Applicable |
Debit: Expenses ledger. Credit: VAT ledger. |
|
Trade Discount |
Debit: Sales ledger. Debit: VAT ledger. Credit: Party ledger. |
|
|
Dadra and Nagar Haveli |
Bad Debts Recovered |
Debit: Cash ledger. Credit: Income ledger. Credit: VAT ledger. |
|
Other Adjustments |
Debit: Sales ledger. Debit: VAT ledger. Credit: Party ledger. |
|
|
Delhi |
Bad Debts Recovered |
Debit: Cash ledger. Credit: Ledger grouped under Indirect Incomes. Credit: VAT ledger. |
|
Change EI/E2 Sales |
Debit: Expenses ledger. Credit: VAT ledger. |
|
|
Other Adjustments |
Debit: Party ledger. Credit: Sales ledger. Credit: VAT ledger. |
|
|
Gujarat |
Sales to Commission Agent |
Debit: Ledger grouped under Current Assets. Credit: Sales ledger. Credit: VAT ledger. Credit: Additional tax ledger. |
|
Kerala |
Not Applicable |
Debit: Sales ledger. Credit: VAT ledger. |
|
Adjustment Against Arrears |
Debit: Ledger grouped under Current Liabilities. Credit: VAT ledger. |
|
|
Odisha |
Debit note issued by seller (insufficient VAT in purchase) |
Debit: Party ledger. Credit: VAT ledger. |
|
Puducherry |
Other Adjustments |
Debit: Party/cash ledger. Credit: Sales ledger. Credit: VAT ledger. |