A journal voucher is created for decreasing output tax in lie of TDS paid, appropriate nature of adjustment and relevant additional details are selected.
To create journal voucher for decreasing output tax in lieu of TDS paid
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 Stat Adjustment Details screen,
o Select Type of duty/tax as VAT.
o Select the option Decrease of Output Tax in the Nature of adjustment field.
o Select the option TDS Adjustments in Additional Details field.
o Press Enter to save and return to voucher screen.
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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