You can record the payment of interest or penalty towards service tax using the Stat Payment button in payment invoice and selecting the payment type as interest.
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For example , ABC Company had to pay ₹ 800 towards service tax interest.
1. Go to Gateway of Tally > Accounting Vouchers > F5: Payment .
2. Click S : Stat Payment and provide the required details.
o Select Service Tax as the Tax Type .
o Enter the period in the fields Period from and To .
o Select Interest in the Type of Payment .
Note: The Type of Payment can be set to Any , and the Type of Payment can be set to Interest for the expense ledger selected in the voucher.
o Press Enter to save.
3. Select bank ledger in the field Account .
4. Select the expense ledger created for interest on service tax under Particulars .
5. Enter the Amount as 800.
6. Enter the Bank Allocation details, as applicable.
7. Enter Narration , if required. The payment invoice appears as shown below:
8. Press Enter to save.
You can record the payment of penalty towards Service tax s using the Stat Payment button in payment invoice and selecting the payment type as Penalty
For example , ABC Company had to pay ₹ 5000 towards service tax penalty.
1. Go to Gateway of Tally > Accounting Vouchers > F5: Payment .
2. Click S : Stat Payment and provide the required details.
o Select Service Tax as the Tax Type .
o Enter the period in the fields Period from and To .
o Select Penalty in the Type of Payment .
Note: The Type of Payment can be set to Any , and the Type of Payment can be set to Penalty for the expense ledger selected in the voucher.
o Press Enter to save.
3. Select bank ledger in the field Account .
4. Select the Service Tax ledger under Particulars .
5. Enter the Amount as 5,000.
6. Enter the Bank Allocation details, as applicable.
7. Enter Narration , if required. The payment invoice appears as shown below:
8. Press Enter to save.
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