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https://help.tallysolutions.com/docs/te9rel51/Tax_International/Botswana/Goods_Sold_Returned.htm

Goods Sold Returned

Go to Gateway of Tally > Accounting Vouchers > Crl+F8: Credit Note

Sales Returns of Taxable Goods

  1. Enter the reference number in the Ref. field.

  2. Select Goods Sold Returned in the Used for field.

  3. Select the Party’s A/c Name from the List of Ledger Accounts.

  4. Select the Sales Ledger with the VAT/Tax class - Sales @ 12%.

  5. The VAT/Tax Class appears as predefined in ledger master.

  6. Select the Name of Item from the List of Items. Enter the Quantity and Rate. The amount is automatically displayed in the Amount field.

  7. Select output VAT ledger with VAT/Tax class - Output VAT @ 12%. The amount of Output VAT is calculated on the assessable value.

  8. Set Show Statutory Details field to Yes/No as per requirement.

  9. Enter the details in the field Narration, if required.

  1. Press Y or Enter to accept and save.

Note: The debit value entered for sales ledgers predefined with VAT/Tax class - Sales @ 12% and Sales @ 12% (Capital Goods) in credit note or journal vouchers by selecting - Goods Sold Returned in the Used for field is captured in Standard Rated Supplies column of box 7.

Sales Returns of Zero Rated Goods

In the credit note,

  1. Enter the reference number in the Ref. field.

  2. Select Goods Sold Returned in the Used for field.

  3. Select the Party’s A/c Name from the List of Ledger Accounts.

  4. Select the Sales Ledger with the VAT/Tax class - Sales - Zero Rated.

  5. The VAT/Tax Class appears as predefined in ledger master.

  6. Select the Name of Item from the List of Items. Enter the Quantity and Rate. The amount is automatically displayed in the Amount field.

  1. Press Y or Enter to accept and save.

Similarly record entries in credit note for the VAT/Tax class - Sales - Exempt by selecting Goods Sold Returned in Used for field.

Note: The credit value entered for sales ledgers predefined with VAT/Tax class - Sales - Zero Rated in credit note or journal vouchers by selecting - Goods Sold Returned in the Used for field is captured in Zero Rated Supplies column of box 7.

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