This topic provides a brief description about the nature of adjustments in Tally.ERP 9 Release 5.2 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 Release 5.2.
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VAT Adjustments - upto Release 4.93 |
Nature of Adjustment (From 5.2) |
Additional Details (From 5.2) |
|
Adjustment of Output VAT Against Notional ITC |
Decrease of Output Tax |
Adjustment of Output VAT Against Notional ITC |
|
Adjustments Towards Interest, Penalty Or Other Dues |
Increase of Tax Liability Increase of Tax Liability Increase of Tax Liability |
Interest Penalty Others |
|
Adjustment Towards CST |
Decrease of Input Tax |
Against CST |
|
Adjustment Towards Entry Tax |
Reducing Tax Liability |
Entry Tax |
|
Adjustment Towards Refund Claim |
Refund of Input Tax |
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|
Apportionment of Input Tax for Tax Free Goods |
Reversal of Input Tax |
Apportionment of Input Tax for Tax Free Goods |
|
Apportionment of ITC for Branch Transfer |
Reversal of Input Tax |
Apportionment of ITC for Branch Transfer |
|
Apportionment of ITC U/s 13(4) |
Reversal of Input Tax |
Apportionment of ITC U/s 13(4) |
|
Cash Discount on Sales |
Decrease of Output Tax |
Cash Discount on Sales |
|
Eligible Notional ITC for the Current Period |
Increasing Notional Input Tax |
--- |
|
Goods Sold Returned |
Decrease in Sales |
--- |
|
Goods Used in Manufacturing - Tax Free Goods (Exempted Unit) |
Reversal of Input Tax |
Goods Used in Manufacturing - Tax Free Goods (Exempted Unit) |
|
ITC Debited Earlier on Goods Received Back After Job Work |
Increasing Input Tax |
Goods Received Back After Job Work |
|
ITC on Goods Sent for Job Work |
Reversal of Input Tax |
ITC on Goods Sent for Job Work |
|
Other Adjustments (Purchase) |
Reversal of Input Tax |
Other Purchase Adjustment |
|
Other ITC Adjustments |
Reversal of Input Tax |
Other ITC Adjustments |
|
Purchase Cash Discount |
Reversal of Input Tax |
Cash Discount on Purchase |
|
Purchase Trade Discount |
Reversal of Input Tax |
Trade Discount |
|
Sales of Goods Outside the State |
Decrease in Sales |
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|
Tax on URD Purchase |
Tax on URD Purchase |
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|
TDS Adjustment |
Decrease of Output Tax |
TDS Adjustments |