Tax on Purchase from Unregistered Dealers (Madhya Pradesh)

You can account for tax on purchases from unregistered dealers by creating a journal voucher.

To create tax liability on purchase from unregistered dealers

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment . In the Stat Adjustment Details screen,

o Select the option VAT in the Type of duty/tax field.

o Select the option Tax on URD Purchase in the Nature of adjustment field.

o Press Enter to save and return to the voucher screen.

3. Debit the ledger created under the group Indirect Expenses and enter the amount.

4. Credit the purchase tax/VAT ledger created under the group Duties & Taxes .

o Enter the Rate and Assessable Value of the item purchased, in the VAT Details screen. The VAT Details screen appears as shown below:

o Press Enter to return to voucher screen.

5. Enter Narration , if required.

The journal voucher appears as shown below:

6. Press Enter to save.