Quick Setup for Service Tax | Tally Features | Tally Synchronization | International Solutions...

7/31/2019 Quick Setup for Service Tax | Tally Features | Tally Synchronization | International Solutions Provider

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Tally.ERP 9

Company Setup: The Company Setup isan option to update Companys Service

Tax details. To do this, click C: CompanyService Tax Details > Enter the requireddetails> Accept the screen.

Note: Service Tax Registration Code, alsoknown as Service Tax Assessee Code, is aPAN based 15 digit alphanumeric number.

Master Setup: The master setup helps users create different ledgers with different options. They are:

Service Ledgers: These ledgers are used while recording any transaction involving

Service Tax. You can create different service ledgers under different groups (Purchase

Accounts, Sales Accounts, and Indirect Incomes etc.) enable Service Tax, and choose

the appropriate Service Category.

Tax Ledgers: To create and specify Tax ledgers with their appropriate Tax Head

(Service Tax, Education Cess and Secondary Education Cess).

Party Ledgers: To create ledgers either for Service Provider or Service Receiver,

specify the group and enter each ledgers Service Tax Details.


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Tally.ERP 9

To create Service Ledgers:

Press Alt+S to open Service Ledgers Setup screen

Enter Name of Ledger > Select appropriate group name in Under

Is Service Tax Applicable is set to Yes by default

Select appropriate Category Press Enter to save

You can create several service ledgers for different groups in a similar way. Furthermore, you cancreate tax ledgers and party ledgers from Master Setup screen in the same way. Voucher Types Setup: All the Service Tax Adjustment entries (to adjust Input Service Credit towardsService Tax Payable) can be recorded in Journal Voucher using Service Tax Adjustment Class.

Service Tax Adjustments: To create Voucher Class and record the transaction in

Journal Voucher.

Lets create a Voucher Class using the steps below:

Press F7 to open Voucher Type Setup screen

Retain the default Name of Voucher, Type of Voucher and Method of Vouchering

Enter Service Tax Adjustment in Name of Class > Press Enter to view Voucher Type

Class screen

Set User Class for Service Tax

Adjustments to Yes

Press Enter to save

Advanced Setup: This option can be used for the following purposes:

Configure Abatement: To set up abatement or deduction allowed by the Government

on service tax value by selecting the appropriate ledger and entering the required details

(Applicable From Date, Notification No., and Abatement rate).


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Tally.ERP 9

Configure Tax Rate: Instead of making alteration for lower or higher service tax rate

during transactions, here, you can set up service ledgers for the same. You can select

appropriate ledger and alter the tax rate details (Service Category, Applicable From

Date, Service Tax Rate, Education Cess Rate and Secondary Educational Cess Rate).

To set up Abatement in Service Tax:

Press Alt+A to view Abatement Details Setup screen

Keep the default Name of Ledger, Under and Category Details

Set Yes to Set/Alter Abatement Details for the appropriate ledgers

Press Enter to open Abatement Details screen

Select the relevant Service Category in Category Enter Applicable From Date and Notification Number

Enter the Abatement rate (%)

Press Enter to save

Similarly, you can set up lower or higher rate of service tax from the Advanced Setup screen.

Hence now the Quick Setup wizard is here to help you through, with a simple solution forimplementing all the statutory modules and Tally.NET.

Get more Tally Tips on Tally.ERP 9 at www.tallysolutions.com/website/html/contactus/tally-tips.php

Quick Setup for Service Tax | Tally Features | Tally Synchronization | International Solutions...

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