https://help.tallysolutions.com/docs/te9rel60/Tax_India/VAT/Puducherry/PY_Journal_Vch.htm

Nature of Adjustments in Journal Voucher - Release 4.93 vs 5.2 (Puducherry)

Below is a brief description about the nature of adjustments in Tally.ERP 9 release 5.2, and how each adjustment corresponds to the adjustment flags available in previous releases. Journal vouchers for accounting adjustments can be recorded using the various nature of adjustments provided in 5.2.

VAT Adjustments - upto Release 4.93

Type of Duty/Tax (From 5.0)

Nature of Adjustment (From 5.2)

Additional Details (From 5.2)

Adjustment Towards CST

VAT and CST

Decrease Of Input Tax

Against CST

Adjustment Towards Refund Claim

VAT

Refund of Input Tax

 

Change in Use of Goods, for Purchase Other Than for Which Credit Allowed

VAT

Decrease Of Input Tax

Increase of Output Tax

Change in Use of Goods, for Purchase Other Than for Which Credit Allowed

Goods Lost, Stolen Or Destroyed, Used As Gift, Sample

VAT

Reversal of Input Tax

Goods Lost, Stolen Or Destroyed, Used As Gift, Sample

Input Tax Credit Admitted On Capital Goods

VAT

Input Tax Credit Admitted On Capital Goods

 

Interest Payable

VAT

Increase of Tax Liability

Interest

Other Adjustments (Sales)

VAT

Increase of Output Tax/Decrease of Output Tax

Other Adjustments

Other Adjustments (Purchase)

VAT

Increasing Input Tax/Decrease of Input Tax

Other Adjustments

Penalty Due

VAT

Increase of Tax Liability

Penalty

Tax Adjustment Towards Other Dealers' Dues

VAT

Reversal Of Input Tax

Tax Adjustment Towards Other Dealer's Dues

Tax Adjustment Towards Transfer of Right to Use

VAT

Increasing Input Tax

Tax Adjustment Towards Transfer of Right to Use

Tax Credit Disallowed in Respect of Branch/Consignment Transfer

VAT

Reversal of Input Tax

Tax Credit Disallowed in Respect of Branch/Consignment Transfer

Tax Credit for Goods Held on the Date of Withdrawal From Composition Scheme

VAT

Increasing Input Tax

Switch Over

Tax Credit for Purchase of Second-Hand Goods

VAT

Increasing Input Tax

Tax Credit for Purchase of Second-Hand Goods

Tax Credit for Trading Stock and Raw Materials Held at the Time of Registration

VAT

Increasing Input Tax

Opening Stock

Tax on URD Purchase

VAT

Tax on URD Purchase

 

Tax on URD Purchase

VAT

Decrease of Output Tax

Tax on URD Purchase

Tax Payable on Goods Held on the Date of Cancellation of Registration

VAT

Increase of Tax Liability

Tax Payable on Goods Held on the Date of Cancellation of Registration

TDS Adjustment

VAT

Decrease of Output Tax

TDS Adjustment

Tax on URD Purchase

VAT

Input Tax Adjustment for Purchases From URDs

 

 

CST

Increase of Tax Liability

Penalty

 

CST

Increase of Tax Liability

Interest

 

CST

Increase of Tax Liability

Others

 

CST

Reducing Tax Liability

Advance Tax

 

CST

Reducing Tax Liability

Refund

To create a journal voucher

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

2.    Click J: Stat Adjustment, to view the Stat Adjustment Details screen.

o     Select  VAT as Type of duty/tax.

o     Select the required adjustment, for example, Reversal of Input Tax, from the List of Nature of Adjustments.

o     Select the required Nature of Adjustments in Additional Details field.

Note: Based on the Nature of adjustments selected, the Additional Details option will appear or disappear.

3.    Debit the purchases ledger grouped under Purchase Accounts, and enter the value in the Debit column.

4.    Credit the VAT ledger.

o     Enter the VAT Details as shown below:

o     Press Enter.

The journal voucher appears as shown below:

5.    Press Enter to save.