Recording Journal Vouchers (Gujarat)

Below is a brief description about the nature of adjustments in Tally.ERP 9 release 5.0, and how each adjustment corresponds to the adjustment flags available in previous releases. Journal vouchers for accounting adjustments can be recorded using the various nature of adjustments provided in 5.0.

VAT Adjustments - upto Release 4.93

Type of Duty/Tax (From 5.0)

Nature of Adjustment (From 5.0)

Additional Details (From 5.0)

Adjustment of Deposit on Voluntary Registration

VAT

Decrease Of Output Tax

Deposit on Voluntary Registration

Adjustment Towards CST

VAT and CST

Decrease Of Input Tax

Against CST

Adjustment Towards Entry Tax Paid

VAT

Reducing Tax Liability

Entry Tax

Adjustment Towards Refund Claim

VAT

Decrease Of Output Tax

Towards Remission U/s 41

Adjustment Towards Sale to Commission Agent

VAT

Decrease Of Output Tax

Increase of Output Tax

Sale to Commission Agent

Sale to Commission Agent

Excess CST Carried Forward

CST

Decrease Of CST

Excess Paid

Interest Payable

VAT

Increase of Tax Liability

Interest

Interest Payable on CST

CST

Increase of Tax Liability

Interest

Others

VAT

Reversal Of Input Tax

Capital Goods

Penalty Due

VAT

Increase of Tax Liability

Penalty

Penalty Payable on CST

CST

Increase of Tax Liability

Penalty

Purchases Not Qualifying for Tax Credit

VAT

Reversal Of Input Tax

Purchases Not Qualifying for Tax Credit

Remission Towards CST

VAT and CST

Decrease Of CST

Remission Towards CST

Reverse Credit on Others

VAT

Reversal Of Input Tax

Others

Reverse Credit on Stock Transfer

VAT

Reversal Of Input Tax

Stock Transfer

Reverse Tax Credit - Fuels Used in Manufacture of Goods

VAT

Reversal Of Input Tax

Fuels Used in Manufacture of Goods

Reverse Tax Credit - Manufactured Goods

VAT

Reversal Of Input Tax

Manufactured Goods

Reverse Tax Credit - Used in Manufacture of Exempted Goods

VAT

Reversal Of Input Tax

Manufacturing of Exempt Goods

Sales of Goods Outside the State (With C -Form)

Sales of Goods Outside the State (Without C -Form)

CST

Decrease in Sales

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Tax Adjustment Towards Transfer of Right to Use

VAT

Reversal Of Input Tax

Tax Adjustment Towards Transfer of Right to Use

Tax on URD Purchase

VAT

Tax on URD Purchase

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TDS Adjustment

VAT

Decrease Of Output Tax

TDS Adjustments

To create a journal voucher,

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

2.     Click J: Stat Adjustment, to view the Stat Adjustment Details screen.

3.     Select Type of Duty/Tax as VAT.

4.     Select the required adjustment, for example, Reversal of Input Tax, from the List of Nature of Adjustments.

5.     Select the required Nature of Adjustments in Additional Details section.

Note: Based on the selection made for Nature of Adjustments, the Additional Details option will appear or disappear.

6.     Debit the purchases ledger grouped under Purchase Accounts, and enter the value in the amount field.

7.     Credit the VAT ledger. Enter the VAT Details as shown below:

8.     Credit the additional tax ledger.

The journal voucher appears as shown below:

9.     Press Enter to save.