Recording Decrease in Output Tax (Puducherry)

To create journal voucher for decreasing output tax in lieu of TDS paid

1.     Go to Gateway of Tally > Accounting Vouchers > F7: Journal.

2.     Click J: Stat Adjustment button.

o      Select Type of duty/tax as VAT.

o      Select the option Decrease of Output Tax in the Nature of adjustment field.

o      Select the option TDS Adjustments in Additional Details field.

o      Press Enter to save and return to voucher screen.

3.     Debit the VAT ledger created under the group Duties & Taxes.

o      Enter the Rate and Assessable Value in the VAT Details screen.

o      Press Enter to return to voucher screen.

4.     Enter the amount in Debit column.

5.     Credit the ledger created under the group Current Assets.

The journal voucher appears as shown below:

6.     Press Enter to save.