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Adjustment of Turnover (VAT)

You can create a journal voucher to account for the adjustment of turnover for Maharashtra VAT.

In the old e-filing template of Maharashtra, for composition tax, there was a provision to capture the deduction of 85% of the sale value from sale of second hand motor vehicles as only 15% of the total sale value was taxable. To capture this deduction, Adjustment of Turnover was provided as the Nature of Adjustment . As this adjustment is not applicable in the new template, the value of this transaction is not captured in the VAT forms.

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment . In the Stat Adjustment Details screen,

o Select the option VAT in the Type of duty/tax field.

o Select the option Adjustment of Turnover in the Nature of adjustment field.

o Press Enter to save and return to the voucher screen. The Additional Details field displays Change in Sales .

3. Debit the sales ledger grouped under Sales Accounts .

4. Enter the amount in the Debit column.

5. Credit the sales ledger grouped under Sales Accounts . The journal voucher appears as shown below:

6. Press Enter to save.