Vat adjustment in tally
This query is : Resolved
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
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
(Expert)
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
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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