Service Tax Masters In Tally ERP 9

  • Example: Let us see how to create Service Tax Masters of Joshi Business and Tax Consultancy Pvt Ltd in Tally ERP 9.

    Income Ledger Head:

    Example:

    Joshi Business and Tax Consultancy Pvt Ltd is providing Accounting Services which income ledger for them and service tax is applicable on  Accounting services.

    • Go to Gateway of Tally.
    • Go to Masters.
    • Go to Accounts Info.
    • Go to Legers.
    • Enter name “Accounting Services”
    • Select Group as “Direct Income” .
    • Select “ Is service tax applicable” option as “applicable”.
    • Accept the screen and Accounting Services Ledger head will be created.
    • Set/Alter Service Tax Details and Enter Percentage of Taxes.

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Service Tax Ledger Head:

Example:

Service Tax is levied at rate 14 % on accounting services.

  • Go to Gateway of Tally.
  • Go to Masters.
  • Go to Accounts Info.
  • Go to Legers.
  • Enter name “Service Tax @ 14%”
  • Select Group as “Duties and Taxes” .
  • Select Type of Duty as “Service Tax”
  • Select Tax Head as “Service Tax”
  • Round Method “Normal Rounding” and Limit as “1”.
  • Accept the screen and Service Tax @ 14%” Ledger head will be created.

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Swach Bharat Cess Ledger Head:

Example:

Swach Bharat Cessis levied at rate 0.5 % on accounting services.

  • Go to Gateway of Tally.
  • Go to Masters.
  • Go to Accounts Info.
  • Go to Legers.
  • Enter name “Swach Bharat Cess @ 0.5%”
  • Select Group as “Duties and Taxes” .
  • Select Type of Duty as “Swach Bharat Cess”
  • Round Method “Normal Rounding” and Limit as “1”.
  • Accept the screen and Swach Bharat Cess @ 0.5%” Ledger head will be created.

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Krishi Kalyan Cess Ledger Head:

Example:

Krishi Kalyan Cess at rate 0.5 % on accounting services.

  • Go to Gateway of Tally.
  • Go to Masters.
  • Go to Accounts Info.
  • Go to Legers.
  • Enter name “Krishi Kalyan Cess @ 0.5%”
  • Select Group as “Duties and Taxes” .
  • Select Type of Duty as “Krishi Kalyan Cess”
  • Round Method “Normal Rounding” and Limit as “1”.
  • Accept the screen and Krishi Kalyan Cess @ 0.5%” Ledger head will be created.

Party ledger:

 

Create Party Ledger in similar fashion as we created in earlier modules.

 

Expense Ledger Head:

Example:

Joshi Business and Tax Consultancy Pvt Ltd has taken advertising services from Across Media Pvt Ltd.So Advertising is Indirect Expense for Joshi Business and Tax Consultancy Pvt Ltd.

  • Go to Gateway of Tally.
  • Go to Masters.
  • Go to Accounts Info.
  • Go to Legers.
  • Enter name “Advertising expense ”
  • Select Group as “Indirect Expense” .
  • Select “ Is service tax applicable” option as “applicable”.
  • Accept the screen and Advertising expense Ledger head will be created.
  • Set/Alter Service Tax Details,Give name of Service, Enter Percentage of Taxes.

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