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	---
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	---
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.