https://help.tallysolutions.com/docs/te9rel64/Tax_India/gst/recording_jv_for_reversal_of_tax_credit_under_gst.htm

Recording Journal Vouchers for Reversal of Tax Credit under GST

Reversal of tax credit can be done for trading goods, capital goods, goods meant for self-consumption and services. You can reverse the tax credit, using a journal voucher.

To record a journal voucher for reversing the tax credit

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. In the journal voucher, debit the expense or party ledger, and credit the integrated tax, central tax, state tax/UT tax or cess ledgers.

6. Press Ctrl+A to accept the voucher.