Journal vouchers for accounting adjustments can be recorded using the various nature of adjustments provided in 5.2. A brief description about the nature of adjustments in Tally.ERP 9 release 5.2, and how each adjustment corresponds to the adjustment flags available in previous releases, is given below.
VAT Adjustments - upto Release 4.93 |
Nature of Adjustment (From 5.2) |
Additional Details (From 5.2) |
Adjustment Towards Entry Tax Paid |
Reducing Tax Liability |
Entry Tax |
Input Tax Credit Admitted On Capital Goods |
Input Tax Credit Admitted On Capital Goods |
--- |
ITC on Net Present Value Scheme |
Increasing Input Tax |
ITC on Net Present Value Scheme |
Reversal of ITC for Goods Dispatched Other Than by Way of Sales @ 4% |
Reversal of Input Tax |
Stock Transfer @ 4 % |
Reversal of ITC on Apportionment for Manufacturing of Exempt Goods |
Reversal of Input Tax |
Manufacturing of Exempt Goods |
Reversal of ITC on Contingencies Covered U/S 9 Sub Sec 2, 3, 5 & 6 |
Reversal of Input Tax |
Contingencies Covered U/S 9 Sub Sec 2, 3, 5 & 6 |
Reverse Credit on Others |
Reversal of Input Tax |
Others |
Sales of Goods Outside the State |
Decrease in Sales |
--- |
Set Off Against Excess ITC Under CST Act |
Decrease of Input Tax |
Against CST |
Set Off Against Excess ITC Under Goa Sales Tax Act |
Reversal of Input Tax |
Set Off Against Excess ITC Under Goa Sales Tax Act |
Set Off Against Excess ITC Under Goa Tax on Entry of Goods Act |
Increasing Input Tax |
Set Off Against Excess ITC Under Goa Tax on Entry of Goods Act |
Set Off Against Excess ITC Under Goa VAT Act |
Reversal of Input Tax |
Set Off Against Excess ITC Under Goa VAT Act |
Tax Credit for Trading Stock and Raw Materials Held at the Time of Registration |
Increasing Input Tax |
Opening Stock |
TDS Adjustment |
Decrease of Output Tax |
TDS Adjustments |