The amount of CST to be paid at the end of the tax period has to be transferred to the CST payable ledger to capture the accurate value in return form.
Go to Gateway of Tally > Accounting Vouchers > F7: Journal
Enter the voucher Date
Debit the CST @ 2% ledgers grouped under Duties & Taxes with Type of Duty as CST and applicable VAT/Tax Class
Enter the value of CST liability in the Amount field.
Similarly, debit the CST ledgers created for different CST rates and enter the corresponding ledger balances in the debit field.
Credit the CST Payable ledger grouped under Current Liabilities or Duties & Taxes with the Type of Duty as Others
The amount to be credited appears automatically
The completed journal voucher appears as shown:
Press Enter to accept.
The amount transferred to CST Payable account has to be paid using a payment voucher by using Stat payment button.
Go to Gateway of Tally > Accounting Vouchers > F5: Payment
In the Payment voucher screen, select the Stat Payment button or press Alt + S for the Statutory Payment sub-screen to be displayed.
In the Statutory Payment screen, select the Type of Duty/Tax as CST and set Auto Fill Statutory Payment to No.
Select the required Bank ledger in the Account field.
Select the CST Payable ledger grouped under Current Liabilities and enter the amount to be paid.
Set Provide Details field to Yes.
In the VAT Payment Details screen, enter the period for which the payment is made in Period From field.
Select the Type of Payment as Not Applicable as the payment is being made towards CST.
Enter the Deposit Date, DD or Cheque Number and Name of the issuing bank.
Press Enter to return to the Payment voucher screen.
Enter the details in the field Narration.
Accept the payment voucher.
In case where the CST dues are not transferred to CST payable ledger using journal voucher, select the CST ledgers directly in payment voucher.
In the Payment voucher screen, select the Stat Payment button. In the Statutory Payment screen, select the Type of Duty/Tax as CST and set Auto Fill Statutory Payment to No.
Select the required Bank ledger in the Account field.
Select the CST Ledgers grouped under Duties & Taxes with the respective with Type of Duty/Tax as CST and respective VAT/Tax classifications. Enter the CST dues against each of the CST ledger selected.
Set Provide Details field to Yes.
In the VAT Payment Details screen, enter the period for which the payment is made in Period From field.
Accept the Payment Voucher.
The VAT and CST dues can be paid using VAT Payment button when the payment entry is recorded in double entry mode.
In the payment voucher,
Press F12: Configure and set Use Single Entry mode for Pymt/Rcpt/Contra to No.
Click on VAT Payment button (Alt+V) and enter the details in VAT Payment Details screen.
Debit the CST Payable ledger and enter the CST Dues
Credit the Bank ledger
Accept the CST Payment Voucher.
Note: The options as applicable to Karnataka State are displayed in the CST Payment Details screen.
The CST liability of the dealer can be discharged by using the Input vat credit available under the provisions of VAT. The Input Tax Credit in excess of output tax liability, if any, can be adjusted against the CST liability to the extent of excess tax credit available. The CST liability can be adjusted using a journal voucher with the VAT Adjustment - Adjustment towards CST (displayed in a Journal voucher class) by debiting the CST ledgers and crediting the Input vat ledgers. The balance amount of CST payable (after adjusting the liability against the available tax credit) will be transferred to CST Payable ledger grouped under Duties & taxes – others or under Current Liabilities. The same can be paid by cash or bank using a payment voucher as explained above.
If the Input tax credit is available to discharge the total liability of CST then the entries displayed for transferring the CST liability to the Payable account using a journal and paying the same through a payment voucher are not required.
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