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How to Calculate Service Tax on total Transaction Amount including TDS? @ Tally.ERP9

How to Calculate Service Tax on total transaction amount including TDS ?

For the accurate calculation of Service Tax and TDS follow the given steps

1. Book the Expenses and Service Tax through Purchase Voucher as shown

2. Deduct TDS in a separate Journal Voucher using of Alt + S: TDS Deduction 

3. Make the Payment to party

4. Check the Service-Tax Input credit Form -report displays the realised value & total credit as shown below

Step1. Book the Expenses and Service Tax through Purchase Voucher as shown

Select the Expenses ledger and allocate the entire amount to the applicable TDS Nature of Payment

Calculate Service Tax on total transaction amount including TDS
Select the Input Service Tax Ledger and in the Service Tax Bill-wise details screen select the default bill details
Calculate Service Tax on total transaction amount including TDS
 

In the Expense Allocation screen select the applicable TDS Nature of Payment

Note: TDS Nature of Payment for the Input Service Tax Ledger as Even on the service Tax amount TDS needs to deducted.

 
Calculate Service Tax on total transaction amount including TDS
In the TDS Details screen select the details as shown
Calculate Service Tax on total transaction amount including TDS
In the Bill-wise Details screen enter the bill references
Save the purchase voucher
 
Step 2. Deduct TDS in a separate Journal Voucher using of Alt + S: TDS Deduction option as shown
Calculate Service Tax on total transaction amount including TDS
Adjust the Bill Number - 1 and save the voucher
Calculate Service Tax on total transaction amount including TDS
Calculate Service Tax on total transaction amount including TDS
 

Step 3. Make the Payment to party

 

Select Mrs. Rao and in the Bill-wise Details screen select the bill reference as shown

Calculate Service Tax on total transaction amount including TDS
Save the Payment Voucher
 
Step 4. Check the Service-Tax Input credit Form -report displays the realised value & total credit as shown below
service tax in tally erp 9
 
 
 
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