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Increase of Output Tax (VAT)

You can create a journal voucher for the increase in output tax.

  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 ReportsVAT 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 Increase of Output Tax in the Nature of adjustment field.
    • Select the option Advance Tax in Additional Details field.
    • Press Enter to save and return to the voucher screen.
  3. Debit the ledger grouped under Current Liabilities.
    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
  4. Enter the amount in the Debit column.
  5. Credit the VAT ledger.
    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.
    • Enter the Rate and Assessable Value in the VAT Details screen.
    • Press Enter to return to voucher screen.
  6. Set the option Provide VAT Details to Yes, and enter the relevant details.
    Note: The option Provide VAT Details is provided as per state specific requirements of VAT/CST forms and annexures. In this example, Bihar is selected as the State.
  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 Increase of Output Tax available as the Nature of Adjustment are given below:

State Name

Additional Details

Voucher Entry

Assam

Debit: Income/sales ledger.

Credit: VAT ledger.

Bihar

Advance Tax

Debit: Ledger grouped under Current Liabilities.

Credit: VAT ledger.

Chandigarh

Not Applicable

Debit: Expenses ledger.

Credit: VAT ledger.

Trade Discount

Debit: Sales ledger.

Debit: VAT ledger.

Credit: Party ledger.

Dadra and Nagar Haveli

Bad Debts Recovered

Debit: Cash ledger.

Credit: Income ledger.

Credit: VAT ledger.

Other Adjustments

Debit: Sales ledger.

Debit: VAT ledger.

Credit: Party ledger.

Delhi

Bad Debts Recovered

Debit: Cash ledger.

Credit: Ledger grouped under Indirect Incomes.

Credit: VAT ledger.

Change EI/E2 Sales

Debit: Expenses ledger.

Credit: VAT ledger.

Other Adjustments

Debit: Party ledger.

Credit: Sales ledger.

Credit: VAT ledger.

Gujarat

Sales to Commission Agent

Debit: Ledger grouped under Current Assets.

Credit: Sales ledger.

Credit: VAT ledger.

Credit: Additional tax ledger.

Kerala

Not Applicable

Debit: Sales ledger.

Credit: VAT ledger.

Adjustment Against Arrears

Debit: Ledger grouped under Current Liabilities.

Credit: VAT ledger.

Odisha

Debit note issued by seller (insufficient VAT in purchase)

Debit: Party ledger.

Credit: VAT ledger.

Puducherry

Other Adjustments

Debit: Party/cash ledger.

Credit: Sales ledger.

Credit: VAT ledger.

 

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