Recording Purchases from URD (Gujarat)

To record purchases made from unregistered dealers

1.     Go to Gateway of Tally > Accounting Vouchers > F9: Purchases.

2.     Click F12: Configure to enable the required options in Voucher Configuration screen.

3.     Enter the Supplier Invoice No. and Date.

4.     Select the supplier ledger in Party’s A/c Name field.

5.     Select a common purchase ledger in which the option Is VAT/CST Applicable is set to Applicable, and Set/Alter VAT Details is disabled.

o      Select Purchase From Unregistered Dealer as Classification / Nature in the VAT Classifications Details screen.

o      Press Enter to save.

6.     Select the required stock items whose VAT rates are specified either at the stock group or stock item level, and enter the Quantity and Rate for stock item.

The purchase invoice appears as shown below:

7.     Press Enter to save.

Journal Entry to account for Tax on Purchase from URD

To create tax liability on purchase from unregistered dealer

1.     Go to Gateway of Tally > Accounting Vouchers > F7: Journal.

2.     Click J: Stat Adjustment to enable the required options in the Stat Adjustment Details screen.

3.     Debit a ledger created under the group Current Assets and enter the value in the amount field.

4.     Credit the tax ledger, and enter the Rate, Addl. Rate, Assessable Value, Commodity name, and Commodity Code in the VAT Details screen.

5.     Credit additional tax ledger, and enter the Rate, Addl. Rate, Assessable Value, Commodity name, and Commodity Code in the VAT Details screen.

The journal voucher appears as shown below:

6.     Press Enter to save.