Tax adjustment required due to decrease in sales can be recorded by creating a journal voucher with the Nature of adjustment as Decrease in Sales.
To create journal voucher for decrease in sales
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.
2. Click J: Stat Adjustment. In the Stat Adjustment Details screen,
o Select the option VAT in the Type of duty/tax field.
o Select the option Decrease in Sales in the Nature of adjustment field.
o Press Enter to save and return to voucher screen.
3. Debit the interstate sales ledger.
4. Enter the amount in the Debit column.
5. Debit the CST ledger.
o Enter the Rate and Assessable Value in the VAT Details screen.
o Press Enter to return to voucher screen.
6. Enter the amount in Debit column.
7. Credit the interstate sales ledger predefined with the nature of transaction Interstate Sales Exempt.
8. Set the option Provide VAT Details to Yes and enter the From and To dates, else retain it as No.
9. Enter Narration, if required. The journal voucher appears as shown below:
10. Press Enter to save.
'Decrease in Sales' has been shared with
