Service Tax in Tally prime

                    Service Tax

Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. It is categorized under Indirect Tax and came into existence under the Finance Act, 1994. ... This tax is not applicable in the state of Jammu & Kashmir.

 

Create a Company

F11 Feature

Enable Service Tax-       Yes

  

Ledger

1) Service Tax - Duties and Taxes

Types of Deductee - Other

Percentage of Calculation- 12%

Method of Calculation- Additional duty

Rounding Method- Not applicable

 

 

 

2) Mohan – Sundry Dr

 

3) Telephone - Sale A/c

Is Service Tax – Applicable

Set/Alter Service Tax Details -   Yes

Service Tax Details

Name- Telephone

Rate Details

Service Tax – 12%

Education Cess – 1%

Secondary Education Cess – 12%

Swachh Bhart Cess- 1%

Krishi kalian cess – 12%

 

 

 

 

4) SBI Bank- Bank A/c

 

Voucher

F8 (Sales Voucher)

Mohan

Telephone                                                                                 5000

Service Tax                                                    12%                     600

 

 

Payment Received with Service Tax in Bank

F6 (Receipt Voucher)

SBI Bank                                                                        5600

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Mohan                                                                            5600