To record journal entry to account tax on URD Purchase
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.
2. Click J: Stat Adjustment.
o Select the option VAT in the field Type of duty/tax.
o Select the option Tax on URD Purchase in the field Nature of adjustment.
o Select Additional Details for the type of adjustment selected.
3. Press Enter to return to voucher.
4. Debit a VAT ledger and enter the Rate, Surcharge Rate and Assessable Value in the VAT Details screen.
The VAT ledger must be:
o Grouped under Duties & Taxes.
o Type of duty/tax is set to VAT.
5. Debit a surcharge ledger and enter the rate and assessable value in the VAT Details screen.
The surcharge ledger must be:
o Grouped under Duties & Taxes.
o Type of duty/tax is set to VAT.
6. Credit a ledger created under Current Assets, and enter the value in the Amount field. The completed screen appears as shown below:
7. Press Enter to save.
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