You can record payments such as, interest, late fee, penalty, and others made to the GST department using a tax payment voucher. Interest, late fee, penalty and others are to be paid separately for central tax and state tax.
To record a tax payment voucher
1. Go to Gateway of Tally > Accounting Vouchers > F5: Payment .
2. Click S : Stat Payment and enter the required details.
Payment Type: Set the type of payment as Regular .
3. Account : Select the bank from which the payment will be made.
4. Select the central and state tax ledgers. If you have to pay interest, penalty, late fee or other dues, select the ledgers to make the payment. created to account for these dues. Ensure these ledgers are grouped under Direct Expenses / Indirect Expenses / Current Liabilities .
5. Select the type of payment to be made to the GST department.
6. Provide GST details: Enable this option to enter the bank details.
If the bank details are not available, you can enter them later in the Challan Reconciliation report.
7. In the Bank Allocations screen, select the ledgers, enter the amount and provide the payment details.
8. Press Enter to save.
Similarly, you can record other tax payments to be made to the GST department.
Note: Tax payment for advance receipts for supply (turnover Rs. 1.5 cr) and reverse charge on purchase from unregistered dealer (till 31.03.2018) has been suspended. The calculation of tax liability for the same is disabled by default in Release 6.1.1.
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