Home Page : TallyERP9Book.Com Click...Order Now ! Click...Order Now ! Click....Book Contents !
Connect with ...
 
FAQ-3 ( Excise for Manufacturers):

Adjusting Service Tax Input Credit against Excise Duty Payable

Create the Ledger Masters

1. BSNL Telecom > under Sundry Creditors > Enable the option Is Service Tax applicable

2. Telephone Expenses > under Purchase Accounts > enable the option Is Service Tax Applicable > select the Service Category.

3. Input ST on Telephone Expenses > under Duties & Taxes > Type of Duty/Tax as Service Tax > select the Service Category.

Enter the Service Purchase entry has shown below

Tally.Erp 9 : Excise for Manufacturers

 [7-6]

The Service Tax Credit available for adjusting against Output Service Tax or Excise Duty is Rs. 457.20 (Service Tax of Rs. 443.88 + Edu Cess of Rs. 8.88 + Sec Cess of Rs. 4.44)

The Credit Details can be viewed in Input Credit Form. Go to Gateway of Tally > Display > Statutory Reports > Service Tax Reports > Input Credit Forms

Tally.Erp 9 : Excise for Manufacturers

 [7-7]

Customer has not sold any services but he has the Excise Duty Payable. How to Adjust Input Service Tax against Excise Duty Payable?

Procedure to adjust Input Service Tax against Excise Duty Payable

Note: The Service Tax Credit adjusted against Excise Payable will be reflected in Form ST 3 and all Excise Reports if you are using Excise for Manufacturer module in Tally.ERP 9.

Step 1: Create Voucher Class in Journal Voucher

To create voucher class alter the Journal Voucher Type. In the Journal Voucher Type alteration screen tab down to Name of Class field and enter the CENVAT Credit Adjustment as the Name of Class

Tally.Erp 9 : Excise for Manufacturers

 [7-8]

In Voucher Type Class screen, set the option Use Class for Excise/CENVAT Adjustments to Yes

Tally.Erp 9 : Excise for Manufacturers

 [7-9]

Step 2: Record a Journal Voucher to adjust Input Service Tax against Excise Duty Payable

  • Select the Excise Unit - ABC Company for which this Credit adjustment is done
  • In Debit field select the Excise Duty Ledger and press enter. In the Duty Details screen select the Bill against which the Service tax credit to be adjusted and in the Amountfield enter the Service Tax Credit amount of Rs. 443.88

Tally.Erp 9 : Excise for Manufacturers

 [7-10]

  • In Debit field select education cess ledger and press enter. In the Duty Details screen select the Bill against which the education cess to be adjusted and in the Amountfield enter the Edu Cess Credit amount of Rs. 8.88
  • In Debit field select secondary education cess ledger and press enter. In the Duty Details screen select the Bill against which the secondary education cess to be adjusted and in the Amount field enter the SEC Cess Credit amount of Rs 4.44
  • In Credit field select input service tax ledger. In the Service Tax Bill Details screen adjust the bill as shown

Tally.Erp 9 : Excise for Manufacturers

 [7-11]

  • In Provide Details screen enter the Period for which the credit is adjusted.

Tally.Erp 9 : Excise for Manufacturers

 [7-12]

The completed Journal Voucher is displayed as shown

Tally.Erp 9 : Excise for Manufacturers

 [7-13]

Note: In the above voucher we have adjusted entire Servcie Tax credit against the Excise Duty Payable. Partial Adjustment of Credit is also possible

 
 
 
 
[FAQ] : Tally.ERP 9
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
 
 

Enter your email address:
[ Get Tally.ERP 9 Questions & Knowledge Base Feed delivered by eMail ]

Delivered by FeedBurner

 
 
Disclaimer

The names of Companies and persons used in this Website have been used for illustrative purposes only.
The visitors may visit www.tallysolutions.com , the web site of Tally Solutions Pvt. Ltd. for resolving their doubts or for clarifications

Trademark :

Tally, Tally 9, Tally9, Tally.ERP, Tally.ERP –9, Tally.Server 9, Tally.NET & Power of Simplicity are either registered trademarks or trademarks of Tally Solutions Pvt. Ltd. in India and/or other countries. All other trademarks are properties of their respective owners. This Website is not associated with any product or vendor mentioned in this Website.

GETTINGS STARTED @ Tally.ERP 9
QUESTIONS BASE @ Tally.ERP 9
REPORT GENERATES @ Tally.ERP 9
TIPS & TRICKS @ Tally.ERP9 GST for Tally.ERP9
1 > Financial Statement Report 1 > Tips & Tricks @ Tally.ERP 9 1 >Introduction to GST ( IGST . CGST, SGST )
2 > Accounts Book & Register Report 2 > FAQ's @ Tally.ERP 9 2 >Calculation of GST ( IGST, CGST & SGST)
3 > Stock Register / Reports 3 > Short Cut Keys @ Tally.ERP 9 3 > GST on Tally.ERP 9 ( With Practical Assignment )
4 > Job Costing Reports 4 > Tips-Weekly Refresher @ Tally.ERP9 4 > Generate GSTR-1 Returns / Reports under Tally.ERP9
5 > Pay Roll Register Reports   5> Status Reconciliation (GSTR-1)
6 > Point of Sale Register Reports   6 > Challan Reconciliation Report for GST Payments
     
  8 > Excise - Manufacturer      
  9 > Technology / Utilities      
 
SWAYAM EDUCATION
Mandal Bagicha, Hemkapada,
Sunhat, Balasore-756002 ( Odisha )-India
eMail ID : tallyerp9bookorder@gmail.com
Web : www.tallyerp9book.com
Mob : 09437264738
Get Updated ...
Website Designed, Hosted, Owned by : www.BalasoreCity.Com