Any existing CENVAT credit can be used to adjust the current CENVAT liability.
To record an adjustment entry for duty liability
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .
2. Click J : Stat Adjustment .
3. Enter the Type of Duty/Tax , Tax Unit , and Nature of Adjustment in the Stat Adjustment Details screen.
4. Press Enter .
5. Press Enter to accept the Tax Unit .
The Tax Unit selected in the Stat Adjustment Details screen will be displayed here. Press Spacebar to change the Tax Unit .
6. Debit the Excise duty ledger.
7. Credit the Excise duty ledger.
8. Press Enter .
9. Enter the narration, if required.
The journal voucher appears as shown below:
10. Press Enter to save.
The journal voucher recorded using the flag Adjustment Towards Duty Liability will be displayed under Payment of Duty on Goods .
Press Enter on Payment of Duty on Goods to view the CENVAT Credit Utilised report.