Vat adjustment in tally

This query is : Resolved

srikanth (Querist)
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09 April 2014 In our company we do URD Purchase which is taxable. so we pay tax for that in FIFO Method, so i want to Know that how to adjust that excess tax paid during month.
ex: as per Tally VAt is Rs.2000/- and we paid as per our FIFO calculation Rs.5000/- How can i adjust balance Rs.3000/- in Tally

Please tell me the Steps to adjust

Rupesh Jain

Rupesh Jain (Expert)
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09 April 2014 if your are pay tax on purchase which is not claimable then you have to expenses off

purchase a.c dr
to vat a/c

other wise bal. in your tally and bal in vat return should be same.
not entry required

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