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SRAVANTHI SARVA (Querist)

16 June 2013 Sir,

Hw can i pass journal entry for cenvat credit to be adjusted against service tax liability in tally 9

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

17 June 2013 You can adjust your Service Tax payment using Excise Credit.

To adjust a Service Tax payment against Excise credit, create a voucher class and make an entry in journal voucher using the class.

WHAT SHOULD YOU DO
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Creating a Service Tax voucher class in Journal Voucher

Go to Gateway of Tally > Accounting Info. > Voucher Types > Alter

1.Select Journal Voucher from the List of Voucher Types. Retain all the fields as default.

To create the Journal Voucher Class, enter a name in the Name of Class field.

NOW Save the Voucher Alteration.

Entry of Journal Voucher using Voucher Class

In F12: Configure (Journal Configuration) ensure Allow Cash Accounts in Journals is set to Yes.

Select F7: Journal with Service Tax Voucher Class.

3. Select the Output Service Tax ledger from the List of Ledger Accounts for the Service Tax Bill details to appear.

4. Select Agst Ref in the Type of Ref column.

5. Select the bill from the List of
Service Tax Bills and specify the amount.

6.Credit the Excise Ledgers and specify
the amount.

7. Enter Narration, if any.

Press Enter to accept and save.

The adjusted values of CENVAT Credit is displayed under section 4A(l)(a)(ii) of ST3 Report.

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