Record purchase returns in debit notes for taxable goods. Specify the VAT rate in Company Details screen.
To record a debit note for purchase return of taxable goods
1. Go to Gateway of Tally > Accounting Vouchers > Ctrl+F9 .
2. Enter the reference number in the Ref. field.
3. Select the required Party’s A/c Name from the List of Ledger Accounts .
4. Enter the required details in Party Details screen.
5. Select the common purchase ledger .
To create a common purchase ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .
2. Enter Name of the purchase ledger.
3. Set Is VAT/CST Applicable? to Applicable .
4. Ensure that Set/Alter VAT Details? is set to No .
6. Select the required taxable stock items.
7. Enter the returned Quantity and Rate . The amount is automatically displayed in the Amount field.
8. Select the required common VAT ledger.
The ledger must be grouped under Duties & Taxes in which the options:
o Type of duty/tax is set to VAT .
o Percentage of Calculation (eg 5)? is set to 0.
9. Set the option Provide VAT Details? to Yes .
10. Select the Nature of Return .
Select the Nature of Return as,
o Not Applicable to account for purchase returns.
o Cash/Trade Discount if the price at which purchase transaction was recorded is reduced. The Statutory Details screen appears as shown below:
o Press Enter after selecting the Nature of Return , and recording other details from purchase transaction.
The debit note appears as shown below:
11. Press Enter to save.
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