You can record a journal voucher to capture the decrease in output tax by selecting Decrease of Output Tax as the nature of adjustment.
To create journal voucher for decrease in output tax
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 Select the option VAT in the Type of duty/tax field.
o Select the option Decrease of Output Tax in the Nature of adjustment field.
o Select the option Not Applicable in Additional Details field.
o Press Enter to save and return to voucher screen.
3. Debit the VAT ledger created under the group Duties & Taxes.
o Enter the Rate, Assessable Value and Schedule Serial No., and select the Schedule Name in the VAT Details screen.
o Press Enter to return to voucher screen.
4. Enter the amount in Debit column.
5. Credit the ledger created under the group Current Liabilities.
The journal voucher appears as shown below:
6. Press Enter to save.
'Decrease in Output Tax (Rajasthan)' has been shared with