Education cess

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 July 2014 in Tally erp, which head we have to create Education Cess & secondery Edu. Cess. Both in OUTPUT & INPUT .

further if we purchase services and get Service Tax input Rs. 1000/- as S.Tax, 20 as Edu. cess, and Rs. 10 as Sec. Edu. Cess.(12.36 %)
my querry is how much input credit we actualy received Rs. 1000/- or Total Rs. 1030/-
Thanks

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 July 2014 service tax input includes edu cess also so take full 1030 full credit.

Ganeshbabu K

Ganeshbabu K (Expert)
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17 July 2014 Create a Group name [EXCISE DUTY] under Duties &Taxes
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Later Create 3 Output ledgers and 3 input ledgers under [EXCISE DUTY]
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On Payment time transfer to Service tax Payable after adjusting the input to output
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From there Bank payment will happens

Querist : Anonymous

Querist : Anonymous (Querist)

17 July 2014 GANESHBABU Sir,

can please tell me the adjusting entry of input & out put, I am fresher one

kindly info me in brief

Ganeshbabu K

Ganeshbabu K (Expert)
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17 July 2014 On Payment day
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.

Cr.Service tax input
Cr.serv.tax. Edu. cess
Cr.Serv.tax Sec.Cess

Dr.Output Service tax
Dr Output Educess
Dr.Output Sec.Cess

Cr.Service tax payable
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On payment

Dr.Service tax Payable
Cr.Bank A/c

Ganeshbabu K

Ganeshbabu K (Expert)
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