banner_ad

Query on output VAT in Tally

VAT (Legacy) 2973 views 2 replies

Dear Sir,

Please tell me ,in Tally 9.0 my output VAT account shows negative figure. Simply b'cause our input VAT are more that output VAT.

Sir  , i have classified my account output VAT account  as Duties & taxes(Current liabilites)

I have a question how i can show this in VAT receivable account in tally 9.0. B'cause it is coming on liability side.

What i have to do.

Please clarify ,

Its urgent.

Thanks.

Sushant

Replies (2)

i think the ledger of output vat is created under duties and taxes, so it is showing on liability side.

ok just create a new ledger called VAT receivable in loans and advances of asset side and transfer the balance by following entry

VAT Receivable a/c                                 Dr       XXXX

        To Output VAT a/c                                                       XXXX

The way suugested by Mr. Rajnikant is correct. But my apprehension is that how you have got excess Input Credit ? Unless & untill your are executng Works Contract, there is no way to have excess Input Credit as VAT is nothing but somehow tax on  value addition. Othewise you may have not claimed input credit in earlier years.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details