Service tax purchase transactions in Tally ERP 9:
Joshi Business and Tax Consultancy Pvt. Ltd. purchased/taken advertising service from Across Media Pvt ltd at Rs 10000/- and 14% Service Tax, 0.5% Swach Bharat Cess and ,0.5% Krishi Kalyan Cess was levied on it.
Lets pass a Purchase entry:
- Go to Gateway of Tally.
- Go to Accounting Voucher.
- Select Purchase Voucher (Shortcut F9)
- Write Date
- Select party Ledger “Systems Pvt ltd”
- Select Expense Ledger “advertising expense”
- Give to amount “Rs 10000”
- Select Tax Ledger “Service Tax @ 14%” and tax would be automatically calculated.
- Select Tax Ledger “Swach Bharat Cess @ 0.5%” %” and tax would be automatically calculated.
- Select Tax Ledger “Krishi Kalyan Cess @ 0.5%” and tax would be automatically calculated.
- Write narration
- Accept the screen.
- You can check the transaction in that party ledger or expense ledger in Reports.
- Your Service Tax computation report will be also updated as you make transactions.
- Make payment as usual like we have seen in earlier module.