You can create a journal voucher for the increase in output tax.
To create journal voucher for increase of output tax
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.
Note: You can create a journal voucher from Gateway of Tally > Display > Statutory Reports > VAT > select the VAT or CST form.
2. Click J: Stat Adjustment to enable the required options in Stat Adjustment Details screen.
● In the Stat Adjustment Details screen,
o Select the option VAT in the Type of duty/tax field.
o Select the option Increase of Output Tax in the Nature of adjustment field.
o Select the option Advance Tax in Additional Details field.
o Press Enter to save and return to the voucher screen.
3. Debit the ledger grouped under Current Liabilities.
4. Enter the amount in the Debit column.
5. Credit the VAT ledger.
o Enter the Rate and Assessable Value in the VAT Details screen.
o Press Enter to return to voucher screen.
6. Set the option Provide VAT Details? to Yes, and enter the relevant details.
Note: The option Provide VAT Details? is provided as per state specific requirements of VAT/CST forms and annexures. In this example, Bihar is selected as the State.
7. Enter Narration, if required.
The journal voucher appears as shown below:
8. Press Enter to save.
The states with Increase of Output Tax available as the Nature of Adjustment are given below:
State Name |
Nature of Adjustment |
Additional Details |
Voucher Entry |
Assam |
Increase of Output Tax |
--- |
Debit: Income/sales ledger. Credit: VAT ledger. |
Bihar |
Increase of Output Tax |
Advance Tax |
Debit: Ledger grouped under Current Liabilities. Credit: VAT ledger. |
Chandigarh |
Increase of Output Tax |
Not Applicable |
Debit: Expenses ledger. Credit: VAT ledger. |
Trade Discount |
Debit: Sales ledger. Debit: VAT ledger. Credit: Party ledger. |
||
Dadra and Nagar Haveli |
Increase of Output Tax |
Bad Debts Recovered |
Debit: Cash ledger. Credit: Income ledger. Credit: VAT ledger. |
Other Adjustments |
Debit: Sales ledger. Debit: VAT ledger. Credit: Party ledger. |
||
Delhi |
Increase of Output Tax |
Bad Debts Recovered |
Debit: Cash ledger. Credit: Ledger grouped under Indirect Incomes. Credit: VAT ledger. |
Change EI/E2 Sales |
Debit: Expenses ledger. Credit: VAT ledger. |
||
Other Adjustments |
Debit: Party ledger. Credit: Sales ledger. Credit: VAT ledger. |
||
Gujarat |
Increase of Output Tax |
Sales to Commission Agent |
Debit: Ledger grouped under Current Assets. Credit: Sales ledger. Credit: VAT ledger. Credit: Additional tax ledger. |
Kerala |
Increase of Output Tax |
Not Applicable |
Debit: Sales ledger. Credit: VAT ledger. |
Adjustment Against Arrears |
Debit: Ledger grouped under Current Liabilities. Credit: VAT ledger. |
||
Odisha |
Increase of Output Tax |
Debit note issued by seller (insufficient VAT in purchase) |
Debit: Party ledger. Credit: VAT ledger. |
Puducherry |
Increase of Output Tax |
Other Adjustments |
Debit: Party/cash ledger. Credit: Sales ledger. Credit: VAT ledger. |