In tally.ERP 9, you can create a journal voucher to account for the decrease of output tax.
To create a journal voucher for decreasing output tax
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 to select required options in Stat Payment Details screen.
o Select the option VAT in the Type of duty/tax field.
o Select the option Decrease of Output Tax in the Nature of adjustment field.
o Select the option TDS Adjustments in the Additional Details field. The Stat Adjustment Details screen appears as shown below:
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 .
6. Enter Narration , if required.
The journal voucher appears as shown below:
7. Press Enter to save.
'Recording a Journal Voucher for TDS Adjustment (Maharashtra)' has been shared with