Purchase Transaction with Service tax

Service tax purchase transactions in Tally ERP 9:

 

Example:

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.

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