https://help.tallysolutions.com/docs/te9rel63/Tax_India/VAT/Punjab/PB_Incr_ITC.htm

Recording Increase in Input Tax (Punjab)

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.