In Tally.ERP 9, you can record a journal voucher to account for the reversal of tax.
To record journal voucher for reversal of tax
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 the Stat Adjustment Details screen,
o Select Type of duty/tax as VAT .
o Select Reversal of Input Tax , as the Nature of adjustment .
Note: Based on the selection made for Nature of Adjustments , the Additional Details option will appear or disappear.
o Press Ctrl+A to return to the voucher.
3. Debit expense ledger and enter the amount field.
4. Credit the VAT ledger. Enter the tax Rate , Addl.Rate , Assessable Value , Commodity Name and Commodity Code in the VAT Details screen, and press Enter . The journal voucher appears as shown below:
5. Press Enter to save.
'Recording Reversal of Tax (Uttar Pradesh)' has been shared with