You can create a journal voucher for increase in tax liability.
To create journal voucher for increase of 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 to enable the required options in Stat Adjustment Details screen.
● In the Stat Adjustment Details screen,
o Select the option VAT in the Type of duty/tax field.
o Select the option Increase of Tax Liability in the Nature of adjustment field.
o Select the option Interest in Additional Details field.
o Press Enter to save and return to voucher screen.
3. Credit the ledger grouped under Indirect Expenses.
4. Enter the amount in the Debit column.
5. Debit the ledger grouped under Current Liabilities.
6. Set the option Provide VAT Details? to Yes, and enter the relevant details.
Note: The option Provide VAT Details? is provided as per state specific requirements of VAT/CST forms and annexures. In this example, Bihar is selected as the State.
7. Enter Narration, if required.
The journal voucher appears as shown below:
8. Press Enter to save.
The states with Increase of Tax Liability available as the Nature of Adjustment are given below:
State Name |
Nature of Adjustment |
Additional Details |
Voucher Entry |
Andhra Pradesh |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Penalty |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Assam |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Interest, Penalty, Other Dues |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Penalty |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Bihar |
Increase of Tax Liability |
Additional Tax |
Debit: VAT ledger. Credit: Ledger grouped under Indirect Expenses/Current Liabilities. |
Interest |
Debit: Expenses ledger. Credit: VAT/CST ledger or ledger grouped under Current Liabilities. |
||
Penalty |
Debit: Expenses ledger. Credit: VAT/CST ledger or ledger grouped under Current Liabilities. |
||
Surcharge |
Debit: VAT ledger. Credit: Ledger grouped under Indirect Expenses/Current Liabilities. |
||
Chandigarh |
Increase of Tax Liability |
Sales by Hire Purchase Or Instalment Purchase |
Debit: VAT ledger. Credit: Ledger grouped under Current Liabilities. |
Schedule H Items |
Debit: Expenses ledger. Credit: VAT ledger. |
||
Chhattisgarh |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Dadra and Nagar Haveli |
Increase of Tax Liability |
Interest, Penalty, Other Dues |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Tax Payable on Goods Held on the Date of Cancellation of Registration |
Debit: Expenses ledger. Credit: VAT ledger. |
||
Delhi |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Penalty |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Tax Payable on Goods Held on the Date of Cancellation of Registration |
Debit: Expenses ledger Credit: VAT ledger. |
||
Gujarat |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Penalty |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Himachal Pradesh |
Increase of Tax Liability |
Interest, Penalty, Other Dues |
Debit: Expenses ledger or ledger grouped under Current Liabilities. Credit: VAT ledger. |
Jharkhand |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Penalty |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Tax Deferred |
Debit: VAT ledger. Credit: Ledger grouped under Current Liabilities. |
||
Karnataka |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Others |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Kerala |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Penalty |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Settlement Fee Payable |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Madhya Pradesh |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Maharashtra |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Late Fees |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Switch Over |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Odisha |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Puducherry |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Others |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Penalty |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Tax Payable on Goods Held on the Date of Cancellation of Registration |
Debit: Expenses ledger. Credit: VAT ledger. |
||
Punjab |
Increase of Tax Liability |
Interest |
Debit: Expense ledger. Credit: VAT ledger. Credit: Surcharge ledger. |
Others |
Debit: Expense ledger. Credit: VAT ledger. Credit: Surcharge ledger. |
||
Other Payments |
Debit: Expense ledger. Credit: VAT ledger. Credit: Surcharge ledger. |
||
Penalty |
Debit: Expense ledger. Credit: VAT ledger. Credit: Surcharge ledger. |
||
Purchase Tax Sch. H Items |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. Credit: Surcharge ledger. |
||
Rajasthan |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Late Fees |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Switch Over |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Telangana |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Penalty |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Uttar Pradesh |
Increase of Tax Liability |
Compounding Scheme Liability |
Debit: Expenses ledger. Credit: VAT ledger. |
Switch Over |
Debit: Expenses ledger. Credit: VAT ledger. |
||
West Bengal |
Increase of Tax Liability |
Interest |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
Interest Payable Under Section 33 |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Late Fees |
Debit: Expenses ledger. Credit: Ledger grouped under Current Liabilities. |
||
Short Paid Earlier |
Debit: VAT ledger. Credit: sales/income ledger. |
'Recording a Transaction for Increase of Tax Liability' has been shared with
