https://help.tallysolutions.com/docs/te9rel65/Tax_International/GCC_VAT/journal_vouchers_for_gcc_vat.htm

Journal Vouchers for GCC VAT

This topic provides a brief description about the nature of adjustments available for GCC VAT in Tally.ERP 9.

Nature of Adjustment

Additional Details

Applicable for UAE?

Applicable for KSA?

Applicable for Bahrain?

Ledgers to be Debited and Credited

Account for and Claim VAT Paid to Customs

Imports

Yes

Yes

Yes

Debit - VAT ledger

Credit - VAT ledger

or

Debit - VAT ledger

Credit - Current assets ledger

Intra GCC Purchase

Yes

Yes

Yes

Purchase from Designated Zone

Yes

No

No

Account for VAT Paid to Customs

Imports

Yes

Yes

Yes

Debit - Current assets ledger

Credit - Expenses ledger

Intra GCC Purchase

Yes

Yes

Yes

Purchase from Designated Zone

Yes

No

No

Decrease of Tax Liability

Adjustments to Goods Imported into UAE

Yes

No

No

Debit - VAT ledger

Credit - Expenses or current assets ledger

Bad Debts

Yes

Yes

Yes

Debit - VAT ledger

Credit - Expenses ledger

Cancellation of Tax Liability for Advance Receipts

Yes

Yes

Yes

Debit - VAT ledger

Credit - Expenses or current assets ledger

Capital Goods

Yes

Yes

Yes

Debit - VAT ledger

Credit - Expenses or current assets ledger

Corrections/Amendments

Yes

Yes

Yes

Debit - VAT ledger

Credit - Expenses or current assets ledger

Imports

No

No

Yes

Debit - VAT ledger

Credit - Expenses or current assets ledger

Intra GCC Purchase

No

No

Yes

Debit - VAT ledger

Credit - Expenses or current assets ledger

Others

Yes

Yes

Yes

Debit - VAT ledger

Credit - Expenses or current assets ledger

Increase of Tax Liability

Adjustments to Goods Imported into UAE

Yes

No

No

Debit - Expenses or the relevant ledger

Credit - VAT ledger

Capital Goods

Yes

Yes

Yes

Debit - Expenses ledger

Credit - VAT ledger

Corrections/Amendments

Yes

Yes

Yes

Exempt and Other Than Business Purposes

Yes

Yes

Yes

Imported for Subsequent GCC Transfers

Yes

Yes

Yes

Debit - Expenses, current assets or VAT ledger

Credit - VAT ledger

Imports

Yes

Yes

Yes

Interest

Yes

Yes

Yes

Debit - Current liabilities ledger

Credit - Expenses ledger

Intra GCC Purchase

Yes

Yes

Yes

Debit - Expenses, current assets or VAT ledger

Credit - VAT ledger

On Account of Advance Receipts

Yes

Yes

Yes

Debit - Expenses ledger

Credit - VAT ledger

Others

Yes

Yes

Yes

Penalty

Yes

Yes

Yes

Debit - Current liabilities ledger

Credit - Expenses ledger

Purchase from Designated Zone

Yes

No

No

Debit - Expenses, current assets or VAT ledger

Credit - VAT ledger

Sale on Profit Margin

Yes

Yes

Yes

Debit - Expenses ledger

Credit - VAT ledger

Transfer of Own Goods to Other GCC Countries

Yes

Yes

Yes

Debit - Party ledger of other country

Credit - VAT ledger

Without Consideration or Less Consideration

Yes

Yes

Yes

Debit - Expenses ledger

Credit - VAT ledger

Increase of Tax Liability & Input Tax Credit

Imports

Yes

Yes

Yes

Debit - VAT ledger

Credit - VAT ledger

Intra GCC Purchase

Yes

Yes

Yes

Purchase from Designated Zone

Yes

No

No

Increasing Input Tax

Bad Debts

Yes

No

Yes

Debit - VAT ledger

Credit - Expenses or current assets ledger

Capital Goods

Yes

Yes

Yes

Claiming VAT paid to Customs

Yes

Yes

Yes

Debit - VAT ledger

Credit - Current Assets

Corrections/Amendments

Yes

Yes

Yes

Debit - VAT ledger

Credit - Expenses or current assets ledger

Imports

Yes

Yes

Yes

Debit - VAT ledger

Credit - Current assets ledger

Intra GCC Purchase

Yes

Yes

Yes

Others

Yes

Yes

Yes

Debit - VAT ledger

Credit - Expenses or current assets ledger

Purchase from Designated Zone

Yes

No

No

Debit - VAT ledger

Credit - Current assets ledger

Recoverable VAT from Other GCC Countries

Yes

Yes

Yes

Debit - VAT ledger

Credit - Expenses or current assets ledger

Opening Balance

---

Yes

Yes

Yes

Debit - VAT ledger

Credit - Current assets ledger

Refund of Input Tax

---

Yes

Yes

Yes

Debit - Current assets ledger

Credit - VAT ledger

Reversal of Input Tax

Bad Debts

Yes

No

Yes

Debit - Expenses or current assets ledger

Credit - VAT ledger

Capital Goods

Yes

Yes

Yes

Claiming VAT Paid to Customs

No

No

Yes

Corrections/Amendments

Yes

Yes

Yes

Exempt and Other Than Business Purposes

No

Yes

Yes

Imports

No

No

Yes

Intra GCC Purchase

No

No

Yes

Others

Yes

Yes

Yes