To account for input tax refund
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.
2. Click J: Stat Adjustment to enable the required options in the Stat Adjustment Details screen.
In the Stat Adjustment Details screen,
o Select the option VAT in the Type of duty/tax field.
o Select the option Refund of Input Tax in the Nature of adjustment field.
o Press Enter to save and return to voucher screen.
3. Debit the ledger grouped under Current Assets.
4. Enter the amount in Debit column.
5. Credit the input VAT ledger.
o Enter the Rate, Assessable Value and Schedule Serial No., and select the Schedule Name in the VAT Details screen.
o Press Enter to return to voucher screen.
The journal voucher appears as shown below:
6. Press Enter to save.
'Refund of Input Tax (Rajasthan)' has been shared with
