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Record Decrease of CST (VAT)

You can create journal vouchers to record decrease in CST value.

  1. Gateway of Tally > Vouchers > press F7 (Journal).
    Alternatively, press Alt+G ( Go To) > Create Voucher > press F7 (Journal).
    Note: You can create a journal voucher from Gateway of Tally > Display More Reports > VAT Reports > select the VAT or CST form.
  2. Press Alt+J (Stat Adjustment). In the Stat Adjustment Details screen,
    • Select the option VAT in the Type of duty/tax field.
    • Select the option Decrease of CST in the Nature of adjustment field.
    • Select the option Rebate in Additional Details field.
    • Press Enter to save and return to voucher screen.
  3. Debit the CST ledger.
    • Enter the Rate and Assessable Value in the VAT Details screen.
    • Press Enter to return to voucher screen.
  4. Enter the amount in the Debit column.
  5. Credit the ledger grouped under Indirect Incomes.
    As in other transactions, you can create the ledger on the fly by pressing Alt+C. Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger > and press Enter.
  6. Set the option Provide VAT Details to Yes and enter the From and To dates, else retain it as No.
  7. Enter Narration, if required. The journal voucher appears as shown below:
  8. Accept the screen. As always, you can press Ctrl+A to save.

The states with Decrease of CST available as the Nature of Adjustment are given below:

State Name

Additional Details

Voucher Entry

Bihar

Rebate

Debit: CST ledger.

Credit: Income ledger.

Delhi

Debit: CST ledger.

Credit: VAT ledger.

Gujarat

Excess Tax Paid

Debit: CST ledger.

Debit: Additional tax ledger.

Credit: Income ledger.

Remission Towards CST

Debit: CST ledger.

Debit: Additional tax ledger.

Credit: Income ledger.

Kerala

Advance Tax

Debit: CST ledger

Credit: Ledger grouped under Current Assets.

Himachal Pradesh

Excess Credit Brought Forward From Previous Return

Debit: CST ledger.

Credit: CST ledger.

Odisha

Advance Tax

Debit: CST ledger.

Credit: Ledger grouped under Current Assets.

Excess Paid

Debit: CST ledger.

Credit: Income ledger.

 

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