Recording Decrease in Output Tax - TDS Adjustment (Assam)

Decrease in output tax can be adjusted by creating a journal for TDS adjustment.

To create a journal voucher for TDS adjustment

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 .  In the Stat Adjustment screen,

o Select Type of duty/tax as VAT .

o Select Decrease of Output Tax , as the Nature of adjustment .

o Select the TDS Adjustment in Additional Details section.

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

o Press Ctrl+A to return to the voucher.

3. Debit the VAT ledger created under the group Duties & Taxes .

o Enter the Rate and Assessable Value in the VAT Details screen.

o Press Enter to return to voucher screen.

4. Enter the amount in Debit column.

5. Credit the ledger created under the group Current Assets .

The journal voucher appears as shown below:

6. Press Enter to save.