Below is a brief description about the nature of adjustments in Tally.ERP 9 release 5.5, 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 5.5.
|
VAT Adjustments - upto Release 4.93 |
Nature of Adjustment - From 5.5 |
|
|---|---|---|
|
Nature of Adjustment |
Additional Details |
|
|
Adjustment Towards CST |
Decrease of Input Tax |
Against CST |
|
Interest Payable |
Increase of Tax Liability |
Interest |
|
Other Adjustments (Sales) |
Decrease of Output Tax |
Other Adjustments |
|
Tax on URD Purchase |
Tax on URD Purchase |
Stock Transfer |
|
TDS Adjustment |
Decrease Of Output Tax |
TDS Adjustments |
|
Value of Goods in Works Contract-Tax Paid by Sub-Contractor |
Decrease Of Output Tax |
Tax Paid by Sub-Contractor |
|
Reversal of Input Tax Credit |
Reversal of Input Tax |
Stock Transfer |
Newly introduced VAT adjustments
|
Nature of Adjustment - From 5.5 |
|
|---|---|
|
Nature of Adjustment |
Additional Details |
|
Decrease Of Input Tax |
Against CST of capital goods |
|
Decrease of Output Tax |
Tax Deferred |
|
Decrease of Output Tax |
Tax Deferred on purchase of goods |
|
Increasing Input Tax |
Interest |
|
Refund of Input Tax |
Refund Claim |
|
Refund of Input Tax |
Refund Order |
|
Reducing Tax Liability |
Adjusting with ITC |
|
Reducing Tax Liability |
Adjusting with ITC of capital goods |