Decreasing Input Tax (Maharashtra)

In Tally.ERP 9, you can record a journal voucher to account for the decrease of input tax.

To create journal voucher for CST adjustment

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 required options in Stat Adjustment Details screen.

o     Select the option VAT in the Type of duty/tax field.

o     Select the option Decrease of Input Tax in the Nature of adjustment field. The Stat Adjustment Details screen appears as shown below:

o     Press Enter to save and return to voucher screen.

3.    Debit the CST ledger created under the group Duties & Taxes.

o     Enter the Rate, and Assessable Value in the VAT Details screen.

o     Press Enter to return to voucher screen.

4.    Enter the amount in Debit column.

5.    Credit the input VAT ledger.

o     Enter the Rate, and Assessable Value in the VAT Details screen.

o     Press Enter to return to voucher screen.

The journal voucher appears as shown below:

6.    Press Enter to save.