The Nature of Adjustment , Increase of Tax Liability with relevant additional details is selected to record a journal voucher to adjust against increase in tax liability
To account for increase in tax liability
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 relevant option in the field Additional Details .
Note: Based on the selection made for Nature of Adjustments , the Additional Details option either appears or disappears.
o Press Ctrl+A to return to the voucher.
3. Debit the expenses ledger, and enter the tax amount.
4. Credit the output VAT ledger. Enter the tax Rate , Assessable Value , Commodity name in VAT Details screen. The journal voucher appears as shown below:
5. Press Enter to save.
'Recording Increase in Tax Liability (West Bengal)' has been shared with