In Tally.ERP 9, you can record a journal voucher to account for the increase of tax liability.
To create a journal voucher for increasing tax liability
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 enable required options in the Stat Adjustment Details screen.
o Select Type of duty/tax as VAT .
o Select Increase of Tax Liability as the Nature of adjustment .
o Select the option Interest in Additional Details field. The Stat Adjustment Details screen appears as shown below:
Note: Based on the selection made for Nature of adjustments , the Additional Details option will appear or disappear.
3. Debit the expense ledger and enter the amount.
4. Credit the ledger grouped under Current Liabilities .
The journal voucher appears as shown below:
5. Press Enter to save.
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