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Change vat in purchase

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 July 2013
we have take purchase in 12.5% but after some day company inform this product price down low and vat rate 4%. But problem is we take purchase in tally 12.5% and sale also 12.5%. how to entry in tally.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
29 July 2013 you can reverse the original entry and pass the fresh entry with correct vat rate

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