Refund of Input Tax (Karnataka)

You can record the input tax to be claimed using the procedure in this topic.

To claim refund

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 form.

2.    Click J: Stat Adjustment. In the Stat Adjustment Details screen,

o     Select VAT as the Type of duty/tax.

o     Select Refund of Input Tax as the Nature of adjustment.

o     Press Enter to save.

3.    Debit the current assets ledger.

4.    Credit the VAT ledger.

The journal voucher appears as shown below:

5.    Press Enter to save.