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 in Input Tax on Account of Branch Transfer |
Reversal of Input Tax |
Stock Transfer |
|
Adjustment Towards Entry Tax Paid |
Reducing Tax Liability |
Entry Tax |
|
ITC on opening stock |
Increasing Input Tax |
Opening Stock |
|
TDS Adjustment |
Decrease of Output Tax |
TDS Adjustments |
|
Reversal of Labour and Service Charges |
Decrease of Output Tax |
Reversal of labour charges |
|
Attributable Input Tax Towards Exempted Sales |
Reversal of Input Tax |
Attributable Input Tax Towards Exempted Sales |
|
Attributable Input Tax Towards Exempted Sales |
Increasing Input Tax |
Attributable Input Tax Towards Exempted Sales |
|
Interest |
Increase of Tax Liability |
Interest |
|
Penalty |
Increase of Tax Liability |
Penalty |
|
Capital Goods adjustments |
Input Tax Credit Admitted On Capital Goods |
--- |
|
Tax on URD Purchase |
Tax on URD Purchase |
--- |
|
Adjustment towards CST |
Decrease of Input Tax |
Against CST |
|
Amount of Tax Deferred |
Decrease of Output Tax |
Tax Deferred |
|
Sales outside of the state |
Decrease in Sales |
--- |
|
Adjustment Towards Refund Claim |
Refund of Input Tax |
--- |
Newly introduced VAT adjustments
|
Nature of Adjustment - From 5.5 |
|
|---|---|
|
Nature of Adjustment |
Additional Details |
|
Reversal of Input Tax |
Reversal on Common Inputs |
|
Adjustment Towards TDS Certificate |
--- |