Below is a brief description about the nature of adjustments in Tally.ERP 9 release 5.2, and how each adjustment corresponds to the adjustment flags available in previous releases. Journal vouchers for accounting adjustments can be recorded using the various nature of adjustments provided in 5.2.
VAT Adjustments - upto Release 4.93 |
Nature of Adjustment - From 5.2 |
|
|---|---|---|
Nature of Adjustment |
Additional Details |
|
Adjustment Towards Entry Tax Paid |
Reducing Tax Liability |
Entry Tax |
Input Tax Credit Admitted On Capital Goods |
Input Tax Credit Admitted On Capital Goods |
--- |
ITC on Net Present Value Scheme |
Increasing Input Tax |
ITC on Net Present Value Scheme |
Reversal of ITC for Goods Dispatched Other Than by Way of Sales @ 4% |
Reversal of Input Tax |
Stock Transfer @ 4 % |
Reversal of ITC on Apportionment for Manufacturing of Exempt Goods |
Reversal of Input Tax |
Manufacturing of Exempt Goods |
Reversal of ITC on Contingencies Covered U/S 9 Sub Sec 2, 3, 5 & 6 |
Reversal of Input Tax |
Contingencies Covered U/S 9 Sub Sec 2, 3, 5 & 6 |
Reverse Credit on Others |
Reversal of Input Tax |
Others |
Sales of Goods Outside the State |
Decrease in Sales |
--- |
Set Off Against Excess ITC Under CST Act |
Decrease of Input Tax |
Against CST |
Set Off Against Excess ITC Under Goa Sales Tax Act |
Reversal of Input Tax |
Set Off Against Excess ITC Under Goa Sales Tax Act |
Set Off Against Excess ITC Under Goa Tax on Entry of Goods Act |
Increasing Input Tax |
Set Off Against Excess ITC Under Goa Tax on Entry of Goods Act |
Set Off Against Excess ITC Under Goa VAT Act |
Reversal of Input Tax |
Set Off Against Excess ITC Under Goa VAT Act |
Tax Credit for Trading Stock and Raw Materials Held at the Time of Registration |
Increasing Input Tax |
Opening Stock |
TDS Adjustment |
Decrease of Output Tax |
TDS Adjustments |
'Nature of Adjustments in Journal Voucher - Release 4.93 vs 5.2 (Goa)' has been shared with
