Decrease in output tax can be adjusted by creating a journal for TDS adjustment.
To create a journal voucher for TDS 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. In the Stat Adjustment screen,
o Select Type of duty/tax as VAT.
o Select Decrease of Output Tax, as the Nature of adjustment.
o Select the TDS Adjustment in Additional Details section.
Note: Based on the selection made for Nature of Adjustments, the Additional Details option will appear or disappear.
o Press Ctrl+A to return to the voucher.
3. Debit the VAT 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 ledger created under the group Current Assets.
The journal voucher appears as shown below:
6. Press Enter to save.
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