To record tax applicable on purchases made from URD, you can configure the Stat Adjustments for your journal voucher and debit the applicable VAT and surcharge ledgers.
To record journal entry to account tax on URD Purchase
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.
2. Click J: Stat Adjustment.
o Select the option VAT in the field Type of duty/tax.
o Select the option Tax on URD Purchase in the field Nature of adjustment.
o Select Additional Details for the type of adjustment selected.
3. Press Enter to return to voucher.
4. Debit a VAT ledger and enter the Rate, Surcharge Rate and Assessable Value in the VAT Details screen.
The VAT ledger must be:
o Grouped under Duties & Taxes.
o Type of duty/tax is set to VAT.
5. Debit a surcharge ledger and enter the rate and assessable value in the VAT Details screen.
The surcharge ledger must be:
o Grouped under Duties & Taxes.
o Type of duty/tax is set to VAT.
6. Credit a ledger created under Current Assets, and enter the value in the Amount field. The completed screen appears as shown below:
7. Press Enter to save.
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