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Back to: 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.

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.

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.

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.