You can record a transaction with the increase in tax liability, by making necessary Stat Adjustments, debit your expense ledger, and crediting the relevant ledger created under Current Liabilities.
To create a journal voucher for increase in tax liability
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.
Note: You can create a journal voucher from Gateway of Tally > Display > Statutory Reports > VAT > select the VAT or CST form.
2. Click J: Stat Adjustment. In the Stat Adjustment Details screen,
o Press Ctrl+A to return to the voucher.
o Select Type of duty/tax as VAT.
o Select Increase of Tax Liability as the Nature of adjustment.
o Select the option Interest in Additional Details field.
Note: Based on the selection made for Nature of adjustments, the Additional Details option will appear or disappear.
o Press Ctrl+A to accept and return to the voucher.
3. Debit the expense ledger and enter the amount.
4. Credit the ledger grouped under Current Liabilities.
The journal voucher appears as shown below:
5. Press Enter to save.
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