Record a Journal Voucher for ISD Credit under GST
When multiple services are received for businesses operating under a single registration, against a single tax invoice, the tax credit of such services can be distributed amongst each business as Input Service Distributor (ISD) credit. You can record a journal voucher to avail the ISD credit.
- Gateway of Tally > Vouchers > press F7 (Journal).
Alternatively, press Alt+G (Go To) > Create Voucher > press F7 (Journal). - Press Alt+J (Stat Adjustment) , select the options as shown below:
- Type of duty/tax – GST.
- Nature of Adjustment – Increase of Input Tax Credit.
- Additional Details – ISD Transfer.
- Debit the state tax, central tax, integrated tax or cess ledgers and credit the party ledger.
- Accept the screen. As always, you can press Ctrl+A to save.