Increase of Output Tax

In Tally.ERP 9, you can create a journal voucher to account for the increase in output tax.

To create journal voucher for increase of output tax

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

2.     Click J: Stat Adjustment to enable required options in 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 Increase of Output Tax in the Nature of adjustment field.

o      Select the option Advance Tax in Additional Details field.

o      Press Enter to save and return to voucher screen.

3.     Debit the ledger grouped under Current Liabilities.

4.     Enter the amount in the Debit column.

5.     Debit the VAT ledger.

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

o      Press Enter to return to voucher screen.

6.     Set the option Provide VAT Details to Yes, and enter the relevant details.

Note: The option Provide VAT Details is provided as per state specific requirements of VAT/CST forms and annexures. In this example, the State is selected as Bihar.

7.     Enter Narration, if required.

The journal voucher appears as shown below:

8.     Press Enter to save.