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Recording Tax on URD Purchase (Haryana)

You can account for tax on purchases from unregistered dealers by creating a journal voucher.

To record journal entry to account tax on URD Purchase

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.

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.

5.    Debit a surcharge ledger and enter the rate and assessable value in the VAT Details screen.

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.