In Tally.ERP 9, you can record a journal voucher to account for the refund of input tax.
To create a journal voucher for refund
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .
N ote: 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 Refund of Input Tax as the Nature of adjustment .
o Select Not Applicable in the field Additional Details . The Stat Adjustment Details screen appears as shown below:
o Press Enter to save and return to voucher screen.
Note: Based on the selection made for Nature of adjustment , the Additional Details option is displayed.
3. Debit the ledger grouped under Current Assets and enter the amount.
4. Credit the VAT ledger.
5. Enter the tax Rate , and Assessable Value in the VAT Details screen.
6. Press Enter to return to voucher screen.
The journal voucher appears as shown below:
7. Press Enter to save.
'Recording Refund of Input Tax (Maharashtra)' has been shared with