Recording Increase in Input Tax (Goa)

To record a transaction with increased input tax value, you can create a journal voucher with the necessary Stat Adjustments, debit your VAT ledger, and credit the relevant purchase ledger.

To account for increase in input tax

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 the expense ledger and enter the amount.

4.     Credit the input VAT ledger. Enter the tax Rate and Assessable Value in VAT Details screen. The journal voucher appears as shown below:

5.     Press Enter to save.