You can record a journal voucher for input tax refund.
To account for input tax 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 or CST form.
2. Click J: Stat Adjustment. In the Stat Adjustment Details screen
o Select Type of duty/tax as VAT.
o Select Refund of Input Tax, as the Nature of adjustment.
Note: Based on the selection made for Nature of Adjustments, the Additional Details option either appears or disappears.
o Press Ctrl+A to return to the voucher.
3. Debit the ledger grouped under Current Assets enter the amount.
4. Credit the input VAT ledger. The journal voucher appears as shown below:
5. Press Enter to save.
The states with Refund of Input Tax available as the Nature of Adjustment are given below:
|
State Name |
Nature of Adjustment |
Additional Details |
Voucher Entry |
|
Andhra Pradesh |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Assam |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Bihar |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Chandigarh |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Chhattisgarh |
Refund of Input Tax |
Not Applicable |
Debit: CST ledger. Credit: Ledger grouped under Current Assets. and Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Refund Claim |
Debit: CST ledger. Credit: VAT ledger. |
||
|
Dadra and Nagar Haveli |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Delhi |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Goa |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Gujarat |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. Credit: Additional tax ledger. |
|
Haryana |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Jammu and Kashmir |
Refund of Input Tax |
Not Applicable |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
||
|
Jharkhand |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Karnataka |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Madhya Pradesh |
Refund of Input Tax |
Received from others |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Refund Order |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
||
|
Self |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
||
|
Specified Period |
Debit: Party ledger grouped under Current Assets. Credit: VAT ledger. |
||
|
Transferred to others |
Debit: VAT ledger. Credit: Ledger grouped under Current Assets. |
||
|
Maharashtra |
Refund of Input Tax |
Refund Order |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Odisha |
Refund of Input Tax |
Not Applicable |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Rule 65 |
Debit: VAT ledger. Credit: Ledger grouped under Current Assets. |
||
|
Rule 66 |
Debit: VAT ledger. Credit: Ledger grouped under Current Assets. |
||
|
Puducherry |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Punjab |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. Credit: Surcharge ledger. |
|
Telangana |
Refund of Input Tax |
--- |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
|
Uttar Pradesh |
Refund of Input Tax |
Not Applicable |
Debit: Expenses ledger. Credit: VAT ledger. |
|
Refund Order |
Debit: Ledger grouped under Current Assets. Credit: VAT ledger. |
||
|
West Bengal |
Refund of Input Tax |
Refund Claim |
Debit: Ledger grouped under Indirect Expenses/Current Assets. Credit: VAT ledger. |
'Recording a Transaction for Refund of Input Tax' has been shared with
