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Payment of Late Fee [Service Tax] in Tally.ERP 9

Assesses are required to file for Service Tax returns at regular intervals.

As per Sec 70 (1), if an assessee files Service Tax returns after the due date, a specific amount has to be paid as late fee.

Release 4.7 onwards, Tally.ERP 9 supports the recording of late fee payment entries.

Example: on 16-9-2013, ABC Company, an Advertising Agency, paid late fee of Rs.500 for late filing of returns for the period of October '12-March '13.

To record the above transaction

1. Create a Late Fee Ledger

2. Record the transaction in Payment Voucher

1. Create a Late Fee ledger

To create Late Fee ledger

Go to Gateway of Tally > Accounts Info. > Ledger > Create

  • In Name field enter the ledger name - Late Fee

  • In Under field select Indirect Expenses

  • Set the option Inventory values are affected to No

  • Set the option Is Service Tax Applicable to Yes

  • Set the option Default Service Category to Any


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  • Press Enter to Accept

2. Record the transaction in a Payment Voucher

To record a Payment Voucher

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

  1. Press F2 to change the date to 16-9-2013

  2. In Account field select Canara Bank

  1. Under Particulars select the ledger - Late Fee


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  1. In the Service Tax Payment Type screen select Others


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  1. In the Service Tax Details screen,

  2. Select New Ref as the Type of Reference

  • Set Type of Payment to Late Fee


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  • Set Category/Service to Advertising Agency

  • Enter the Amount as Rs. 500.

  1. Press Enter to return to the Voucher Creation screen

  2. Set the option Provide Details to Yes


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  1. The Service Tax Payment Details screen appears. Provide the period for which return is being filed late, and other required details:


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  1. Fill in  the required details in the Bank Allocations screen.


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  1. Press Enter and return to the Voucher Creation screen.


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  1. Press Enter to save.

The entry will be reflected under Part -G in Form ST-3, as shown:


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Note: The entry will also be reflected in G.A.R. - 7 Challan and Service Tax Computation report.

 
 
 
 
Tally.ERP 9 Reference Manual LIBRARY
1.
Installation of Tally.ERP9
2.
Site Licensing of Tally.ERP9
3.
Shortcut Keys in Tally.ERP9
4.
Maintaining Company Data
5.
Creating Masters
5a. Accounts Information [Creating Masters]
5b. Inventory Information [Creating Masters]
6.
Voucher Entry
7.
Reports in Tally.ERP9
8.
Excise for Dealer
9.
Excise for Manufacturer
10.
Reports [ Excise for Manufacturer]
11.
Excise for Importer
12.
Service Tax in Tally.ERP9
13.
Tax Collected at Source (TCS) in Tally.ERP9
14.
Tax Deducted at Source (TDS) in Tally.ERP9
15.
Value Added Tax (VAT) in Tally.ERP9
16.
Central Sales Tax (CST) in Tally.ERP9
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
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