Service tax issue

Tally 897 views 3 replies

Shivani

Learner

1881 Points Joined December 2012

Dear Friends

I have the following query relating to service tax in Tally

Suppose ABC Pvt. Ltd. made a sale of taxable services worth Rs. 100000 to Mr. A.

Now we know that we pass the entry in the sales voucher in Tally in Accounting Invoice Mode and charge service tax and cesses.

But if you go to Gateway of Tally > Display > Statutory Reports > Service Tax Reports > Service Tax Payables > Bill Date Wise

You will find there that in the Realised Amount Column, Tally is showing Rs. 112360 !!!

How come tally is showing Rs. 112360 in Realised Amount Column?

Realised amount means the amount which the service provider has received from service receiver, but in this case we have thus far passed only the sales entry and the receipt entry is yet to be passed.

Please advise soon.

regards

shivani

Replies (3)

achal agarwal

Tally Authorised Partner

177 Points Joined August 2008

this is because u hv configured service tax liability on accrual basis if you configure on realisation basis then report will show the realisation amt when u receive payment , else whatever sales you have made will be shown as relaised as service tax has to be paid on accriual basis.

to change method of service tax accrual or realisation.. go to f11 --> statutory --> service tax --> set alter stax details -->under compute tax liability on - --> select realisation.

rgds

achal agarwal.