Home Page : TallyERP9Book.Com Click...Order Now ! Click...Order Now ! Click....Book Contents !
Connect with ...

Creating Purchase Invoice for Services Tax in TallyERP9 : LAB Practice

On 15-4-2015, NeXT Services received Professional Services from Shweta Agencies worth Rs. 1,75,000. The payment for the services was made on 16-4-2015

Step1: Create Purchase Invoice

Go to Gateway of Tally > Accounting Vouchers > F9: Purchase

 

1. Press F2 and change the date to 15-4-2015.

1. Enter the Supplier Invoice No. and Date as desired.

2. In the Party's A/c Name, select Shweta Agencies from the List of Ledger Accounts.

3. Select the Name of Ledger as Professional Services from the List of Ledger Accounts.

4. Enter the amount Rs. 175000.

5. Select the Input Service Tax ledger from the List of Ledger Accounts.

 

The Service Tax Details sub-form appears as shown below:

Fig-16

NOTE :

Tally.ERP 9 allows you to make the necessary changes in the Service Tax Details screen.

 

6. In The Bill-wise Details screen, select New Ref and type the Name as KC-1.

  • Select INPUT Service Tax from the List of Service Tax Ledgers

The Completed Bill-wise Details appears as shown below:


Fig-17
The Completed Purchase Invoice appears as shown below :

Fig-18

7. Press Y or Enter to accept the screen.

Step 2: Create Payment Voucher

 

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

NOTES :

In the F12: Configuration, set Use Single Entry mode for Pymt/Rcpt/ Contra to Yes

1. Press F2 and change the date to 16-4-2015.

2. In the Account field, select AXIS BANK from the List of Ledger Accounts.

3. In the Particulars field select Shweta Agencies from the List of Ledger Accounts.

4. Enter Rs. 1,93,025 in the Amount field.

5. In the Bill-wise Details screen, select Agst Ref

 

The Bill-wise details screen appears as shown below:

Fig-19
  • Select KC-1 from the List of Pending Bills and accept the Bill-wise Details screen.

6. Enter Narration, if any.

 

 The completed Payment Voucher appears as shown below:


Fig-20
7. Press Y or Enter to accept the Payment voucher
Previous ...
Next ...
 

1- Basics of Service Tax in TallyERP9 : LAB Practice

 

2- Company Setup for Service Tax in TallyERP9 : LAB Practice

 
3- Enabling Service Tax in TallyERP9 : LAB Practice

In the F11: Features (Statutory & Taxation Features),

 

  • Set Enable Service Tax to Yes.
  • Enable Set/Alter Service Tax Details to Yes
 

4- Service Tax Statutory Masters in TallyERP9 : LAB Practice

Before creating masters, the following Statutory Master is loaded into Tally.ERP 9. To view the Service Category,

 

Go to Gateway of Tally > Display > Statutory Info. > Service Categories > Advertising Agency

Let us create the following ledger masters related to Service Tax :

  • Sundry Creditors
  • Sundry Debtors
  • Duties and Taxes
  • Sales Accounts
  • Purchase Accounts
 

5- Create Sundry Creditor Ledger for Service Tax in TallyERP9 : LAB Practice

 

6- Create Sundry Debtor Ledger for Service Tax in TallyERP9 : LAB Practice

 

7- Creating Service Tax Ledger in TallyERP9 : LAB Practice

 

8- Create Sales Ledger for Services in TallyERP9 : LAB Practice

 

9- Create Purchase Ledger for Services in TallyERP9 : LAB Practice

 

10- Creating Purchase Invoice for Services Tax in TallyERP9 : LAB Practice

On 15-4-2015, NeXT Services received Professional Services from Shweta Agencies worth Rs. 1,75,000. The payment for the services was made on 16-4-2015

 

11- Creating Sales Invoice for Services Tax in TallyERP9 : LAB Practice

On 20-4-2015,  Consultancy  Services  worth  Rs.  7,00,000  was  provided  to  Swayam Systems and the amount was received on 25-4-2015.
 

12- Accounting for Advance Receipts for Services Tax in TallyERP9 : LAB Practice

As mentioned earlier, Service tax is not applicable on the receipt of advance for a service until the invoice is raised. Service tax is to be paid on the amount received on the invoice value including the advance received.

On 27-4-2015, NeXT Services receives an advance of Rs. 70,000 for a service rendered by it from Indian Business House as on 29-4-2015.

On 29-4-2015, NeXT Services, completed the contract and raised an invoice on Indian Business   House  towards  Advertising  Agency  Services  with  10%  Service  Tax,  2% Education Cess and 1% Secondary Education Cess for a total amount of Rs 1,70,000 of which Rs 70,000 was received as an advance. Service tax, Education Cess and Secondary Cess is calculated on the total assessable value of Rs. 1,70,000.
 

13- Accounting for Opening Service Tax Credit in TallyERP9 : LAB Practice

The pending Service Tax payables and available Input Credit on Service Tax can be transferred from the previous financial year to the current financial year in Tally.ERP 9.

On 30-4-2015, NeXT Services decided to pay Service Tax to the government.  Information pertaining to the Previous year is given below:

  • Input Service Tax Credit for Rs. 1,030 on 10,000 bill value
Service Tax payable of Rs. 2,060 on 20,000 bill value
 

14- Payment of Service Tax in TallyERP9 : LAB Practice

On 05-5-2015, NeXT Services, paid Service Tax of Rs. 5506.72 towards Advertising Agency Services, vide cheque no. 551899 after adjusting Input Service Tax Credit on Telephone Services
 

15- Service Tax Reports in TallyERP9 : LAB Practice

Service Tax reports are the reports which is used to view all the Service Tax related details at one place. The reports available in the menu are:

  1. Service Tax Payables
  2. Input Credit Form
  3. ST3 Report

Go to Gateway of Tally > Display > Statutory Reports

 
 
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
 
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)
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