Go toGateway of Tally > Accounting Vouchers > Ctrl + F8: Credit Note
InUsed forfield, from the list VAT Adjustments select Goods sold returned option.
Select thePartyfrom the List of Ledger Accounts in Party’s A/c Name.
SelectSales Ledgerfrom the List of Ledger Accounts.
VAT/Tax Classfield gets updated as per the VAT/Tax Class selected during Sales ledger Creation.
Select theStock Itemfrom the List of Items in Name of Item.
Enter theQuantityreturned and theRateto get the amount in theAmountfield.
Select theOutput VATledger from the List of Ledger Accounts.
Select theTCSledger from the List of Ledger Accounts and press enter to view TCS Details screen.
In theTCS Detailsscreen, by default the accumulated amount ofItem ValueandVAT Amountis picked and displayed as theGross Amount(can be changed if required).IncomeTaxis calculated at prescribed rate on theGrossamount.
InTCS-Bill-wise Details for:TCS @ 2.5%section, in Type of Ref field select Against Ref and select the Bill against which the customer has returned the goods.
Note: To calculate TCS onGross Amount(Item value and output VAT), ensure the optionCalculate Tax on current Sub-Totalis set toYesinF12: Configuration (Sales Invoice Configuration).
In theBill-wise Detailsscreen adjust the sales returns, against the sales bill dated 19-4-2008.
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