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Reversal of Tax Credit under GST in Tally.ERP9

Reversal of tax credit can be done for trading goods, capital goods, goods meant for self-consumption and services. You can reverse the tax credit, using a journal voucher.

To record a journal voucher for reversing the tax credit

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

2.                    Click J: Stat Adjustment.

3.                    In the Stat Adjustment Details screen, select the options as shown below:

4.                   Press Enter to save and return to the journal voucher.

5.                   In the journal voucher, debit the expense or party ledger, and credit the integrated tax, central tax, state tax/UT tax or cess ledgers.

6.                   Press Ctrl+A to accept the voucher.

 
 
 
 
Tally.ERP 9 Reference Manual LIBRARY
1.
Installation of Tally.ERP9
2.
Site Licensing of Tally.ERP9
3.
Shortcut Keys in Tally.ERP9
4.
Maintaining Company Data
5.
Creating Masters
5a. Accounts Information [Creating Masters]
5b. Inventory Information [Creating Masters]
6.
Voucher Entry
7.
Reports in Tally.ERP9
8.
Excise for Dealer
9.
Excise for Manufacturer
10.
Reports [ Excise for Manufacturer]
11.
Excise for Importer
12.
Service Tax in Tally.ERP9
13.
Tax Collected at Source (TCS) in Tally.ERP9
14.
Tax Deducted at Source (TDS) in Tally.ERP9
15.
Value Added Tax (VAT) in Tally.ERP9
16.
Central Sales Tax (CST) in Tally.ERP9
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
GST in Tally.ERP9
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