Warning: Undefined variable $result in /var/www/html/tallyweb/modules/pss/crm/kb/search/CKBTallyHelpSearchM.php on line 1103
Recording Increase of Tax Liability (Puducherry)
Type search words and press enter
"Use Edit Log for transactions/masters, and digital signature for invoices/reports with Release 2.1. Download NOW!"
https://help.tallysolutions.com/docs/te9rel63/Tax_India/VAT/Puducherry/PY_Incr_Tax_Liability.htm

Recording Increase of Tax Liability (Puducherry)

A journal voucher is created with Increase of Tax Liability as the Nature of Adjustment to adjust the increase of tax liabilty.

To create a Journal voucher for interest payable

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 Stat Adjustment Details screen,

o Select VAT as Type of duty/tax .

o Select Increase of Tax Liability as the Nature of adjustment .

o Select the option Interest in Additional Details field.

o Press Enter to return to the voucher.

3. Debit the expense ledger and enter the amount in Debit column.

4. Credit the ledger grouped under Current Liabilities .

The journal voucher appears as shown below:

5. Press Enter to save.