You can claim the excess amount paid as tax, interest, penalty, late fee or other dues as refund using a journal voucher.
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .
2. Click J : Stat Adjustment .
3. In the Stat Adjustment Details screen, select the options as shown below:
4. Press Enter to save and return to the journal voucher.
5. Debit the bank ledger, and enter the amount of interest liability.
Note: To select bank or cash ledger, click F12: Configure and set the option Allow cash accounts in journal vouchers? to Yes in the Voucher Configuration screen.
6. Credit the GST ledgers or ledger grouped under Current Assets .
7. Press Ctrl+A to accept the journal voucher.
Similarly, you can record the journal voucher by selecting the Additional Details in the Stat Adjustment Details as:
● Not Applicable , for refund of excess tax payment made.
● Penalty , for refund of excess payment made towards penalty.
● Late Fee , for refund of excess payment made towards late fee.
● Others , refund of excess payment made towards other dues.
'Record a Journal Voucher for Refund of Tax Credit under GST' has been shared with