The tax liability rests with the dealer for purchases from unregistered dealers, and it has to be recorded in the same month as the purchase.
To record a purchase transaction from URDs
1. Go to Gateway of Tally > Accounting Vouchers > F9: Purchases.
2. Enter the Supplier Invoice No. and Date if any.
3. Select the supplier (unregistered dealer) ledger in Party’s A/c Name field.
4. Select the purchase ledger predefined with Purchase From Unregistered Dealer as the Nature of transaction.
5. Select the required stock items whose VAT rates are specified either at the stock group or stock item level. Enter Quantity and Rate for each stock item.
The purchase invoice appears as shown below:
6. Press Enter to save.
To create tax liability on purchase from unregistered dealers
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.
2. Click J: Stat Adjustment.
o Select VAT as Type of duty/tax.
o Select the option Tax on URD Purchase in the Nature of adjustment field.
o Press Enter to save and return to voucher screen.
3. Debit the ledger created under the group Indirect Expenses and enter the amount in Debit column.
4. Credit the purchase tax/VAT ledger created under the group Duties & Taxes.
o Enter the Rate and Assessable Value of the item purchased in the VAT Details screen. The VAT Details screen appears as shown below:
o Press Enter to return to voucher screen.
The journal voucher appears as shown below:
5. Press Enter to save.
'Recording Purchases from URD (Puducherry)' has been shared with
