Recording a Transaction for Increase of Output Tax

You can create a journal voucher for the increase in output tax.

To create journal voucher for increase of output 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 to enable the required options in Stat Adjustment Details screen.

● In the Stat Adjustment Details screen,

o Select the option VAT in the Type of duty/tax field.

o Select the option Increase of Output Tax in the Nature of adjustment field.

o Select the option Advance Tax in Additional Details field.

o Press Enter to save and return to the voucher screen.

3. Debit the ledger grouped under Current Liabilities .

4. Enter the amount in the Debit column.

5. Credit the VAT ledger.

o Enter the Rate and Assessable Value in the VAT Details screen.

o Press Enter to return to voucher screen.

6. Set the option Provide VAT Details? to Yes , and enter the relevant details.

Note: The option Provide VAT Details? is provided as per state specific requirements of VAT/CST forms and annexures. In this example, Bihar is selected as the State .

7. Enter Narration , if required.

The journal voucher appears as shown below:

8. Press Enter to save.

The states with Increase of Output Tax available as the Nature of Adjustment are given below: