https://help.tallysolutions.com/docs/te9rel63/Tax_India/VAT/Uttar_Pradesh/UP_jou_vch_int_payable.htm

Recording Journal Vouchers for Compounding Scheme Liability (Uttar Pradesh)

In Tally.ERP 9, you can record a journal voucher to account for interest payable for compounding scheme liability by selecting Increase of Tax Liability as the Nature of Adjustment .

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 the Stat Adjustment Details screen,

o Select Type of duty/tax as VAT .

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

o Select the Compounding Scheme Liability in Additional Details section.

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 the expense ledger and enter the amount.

4. Credit the tax ledger grouped under Duties & Taxes . The journal voucher appears as shown below:

5. Press Enter to save.