You can record a debit note to capture purchase return of taxable goods. A debit note is a commercial document sent to the seller by a buyer, requesting for credit note, or to adjust for amounts pending with the seller.
To record a debit note for purchase return of taxable goods
1. Go to Gateway of Tally > Accounting Vouchers > Crl+F9 .
2. Enter the reference number in the Ref. field.
3. Select the required Party’s A/c Name from the List of Ledger Accounts .
4. Enter the required details in Party Details screen.
5. Select the common purchase ledger .
To create a common purchase ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .
2. Enter Name of the purchase ledger.
3. Set Is VAT/CST Applicable? to Applicable .
4. Ensure that Set/Alter VAT Details? is set to No .
6. Select the required taxable stock items.
7. Enter the returned Quantity and Rate . The amount is automatically displayed in the Amount field.
8. Select the required common VAT ledger.
The ledger must be grouped under Duties & Taxes in which the options:
o Type of duty/tax is set to VAT .
o Percentage of Calculation (eg 5)? is set to 0 .
9. Set the option Provide VAT Details? to Yes . In the Statutory Details screen,
o Select the Nature of Return .
Select the Nature of Return as,
o Not Applicable to account for purchase returns.
o Change in Nature to account for difference in tax amount arising from change in tax rate or nature of transaction.
o Prior Period to account for returns made against purchases of previous return period.
o Press Enter after selecting the Nature of Return .
The debit note appears as shown below:
10. Press Enter to save.
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