To capture increase in input tax, you can create a journal voucher for Increasing Input Tax as Goods Received Back After Job Work .
To account for increase in input tax
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 . In the Stat Adjustment Details screen,
o Select Type of duty/tax as VAT .
o Select Increasing Input Tax , as the Nature of adjustment .
o Select the Goods Received Back After Job Work in Additional Details section.
Note: Based on the selection made for Nature of Adjustment , the Additional Details option either appears or disappears.
o Press Ctrl+A to return to the voucher.
3. Debit the input VAT ledger. Enter the Rate , Surcharge Rate and Assessable Value in VAT Details screen. Enter the amount.
4. Debit the surcharge ledger. Enter the Rate , Surcharge Rate and Assessable Value in VAT Details screen. Enter the amount.
5. Credit the ledger grouped under Current Assets . The journal voucher appears as shown below:
6. Press Enter to save.
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