Tax credit can be claimed for purchase from unregistered dealers, a journal voucher is created with Nature of Adjustment as Tax on URD Purchase.
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 Press Enter to return to voucher.
3. Debit the tax on purchase from URD ledger created under the group Current Assets and enter the amount.
4. Credit the VAT tax ledger created under the group Duties & Taxes. The completed screen appears as shown below:
5. Press Enter to save.
'Recording Tax on URD Purchase (West Bengal)' has been shared with