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How to record Service Tax Payment Transaction in Tally.ERP 9 ?

Query

How to record Service Tax Payments (to government) in Tally.ERP 9? Is it possible to generate GAR 7 Challan for the government payments?

Solution

Under Service Tax Rules, service tax is payable monthly or quarterly depending on the Type of organisation. All the service tax charged (for which payment is received from the service receiver) is to be paid to the credit of Government on or before 5th of the next month.

Service Tax amount shall be paid to the government account through any designated branches of the authorised banks, along with G.A.R.- 7.

In Tally.ERP9, service tax payments will be recorded in Payment Voucher.

To record a Payment Voucher

Go to Gateway of Tally > Accounting Vouchers > F5: Payment

Set Up:

In F12: Configure (Payment Configuration)

  • Ensure the option Use Single Entry mode for Pymt/Rcpt/Contra is set to Yes

1. Press F2 and change the date to 3-5-2010

2. In Account field select Canara Bank

3. Under Particulars select Service Tax @ 10% press enter to view Service Tax Details screen

4. In Service Tax Details screen

  • In Type of Ref field select Agst Ref

  • In Name field select the bills towards which the service tax payment is made to government. Select Sale/2-1

  • Based on the bill selected Category - Event Management Service and Amount - 60,000 will be defaulted automatically.

Service Tax Payment Transaction in Tally.ERP 9

5. Under Particulars select Education Cess @ 2% press enter to view Service Tax Details screen

6. In Service Tax Details screen

  • In Type of Ref field select Agst Ref

  • In Name field select the bills towards which the service tax payment is made to government. Select Sale/2-1

  • Based on the bill selected Category - Event Management Service and Amount - 1,200 will be defaulted automatically.

7. Under Particulars select Secondary Education Cess @ 1% press enter to view Service Tax Details screen\

8. In Service Tax Details screen

  • In Type of Ref field select Agst Ref

  • In Name field select the bills towards which the service tax payment is made to government. Select Sale/2-1

  • Based on the bill selected Category - Event Management Service and Amount - 600 will be defaulted automatically.

9. Set the option Provide Details to Yes to enter Service Tax payment details.

10. In Payment Details screen

  • From Date: In this field enter the From date of the period for which the tax is paid
  • To Date: In this field enter the To date of the period for which the tax is paid.
  • Cheque/DD No: In this field user can enter either the cheque or the DD No through which the Service Tax payment is made. In this transaction payment is made through cheque no. as 045872.
  • Name of the Bank: In this field mention the Name of the Bank through which the tax amount is paid to the Government. Select Canara Bank from the List of Banks.

In this field Tally.ERP 9 displays the List of Banks which lists all the banks which are already created to carry out the regular business, option (New Name) to create new Bank and the option Not applicable if the payment is made by Cash.  

Note: The option New Name will be selected when the authorised bank through which the payment is made is different from the regular bank where the deposit account is maintained. The Bank name created here will not be available under the List of Ledgers.

  • Bank Account Number: Enter the bank account number in this field.
  • Branch Name: Enter the bank Branch name in this field.

Note: Bank Account Number and Branch Name details will be defaulted automatically, if the user selects the bank which is already created to carry out the regular business (withBank Account Number and Branch Name) in the Name of Bank field. User can change such defaulted details.

  • Cheque Date: Enter the cheque date in this field.
  • Challan No.: In this field enter the service tax payment challan number.

If the service tax payment challan details are not available at the time of recording the service tax payment entry, such details can be updated by altering the payment voucher.

  • Challan Date: Enter the challan date in this field.

Service Tax Payment Details in Tally.ERP 9
The completed Payment Voucher is displayed as shown
Service Tax Payment Transaction in Tally.ERP 9

7. Press enter to accept.

Print G.A.R.-7  Challan

To print G.A.R.-7 Challan

  • Press PageUp from the Accounting Voucher Creation screen, to view the earlier entered transaction.
  • Click on P:Print button or press Alt+P to view Voucher Printing screen.
  • Press Backspace and enable the option Print G.A.R.-7 Challan to Yes
Voucher Printing for Service Tax Payment Transaction in Tally.ERP 9
  • Press Enter to accept the voucher printing screen.
  • Click on Zoom from Accounting Voucher Display screen to view the print preview of GAR-7 Challan
preview of GAR-7 Challan in Tally.ERP 9
 
 
 
Company Information @ Tally.ERP9
Group & Ledger

Introduction
1. THE GROUP
2. THE LEDGER
3. VOUCHERS TYPES

Advanced Inventory / Stock
Meaning
Order Processing
Re-Order Levels
Tracking Numbers
Batch-wise Details
Additional Cost Details
Bill of Materials (BOM)
Price Lists and Price Levels
Stock Valuation
Zero Valued Entries
Inventory Ageing Report
Actual and Billed Quantities
Advanced Usage of Vouchers
Maintain Bill-wise Details
Cost Center and Cost Category
Interest Calculation
Reversing Journals
Post-Dated Voucher
Memo (Memorandum) Voucher
Optional Voucher
Using Tracking Number
Tally.ERP9 Report
  1. Unit Objectives
  2. Modifying Reports (Options)
  3. Balance Sheet
  4. Profit & Loss Account
  5. Stock Summary
  6. Trial Balance
  7. Day Book
  8. Books of Accounts
  9. Statement of Accounts
  10. Inventory Books
  11. Statutory Reports
  12. List of Accounts ( Chart of Accounts)
  13. Exception Reports
  14. Printing Reports
 
Tally.ERP9 MIS and Other Reports
 
Statutory & Taxation
Utilities & Others @ Tally.ERP9
Credit Limits
Knowledge Base @ Tally.ERP9
Stock Items
Stock Groups
Inventory Masters
Inventory Vouchers
Inventory Report Statements
Balance Sheet
Accounting Reports
Accounting Vouchers
Interest Calculation
VAT-Value Added Tax
Service Tax
TDS (Tax Deducted at Source)
 

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