D-Day Events is an event management company. They render event management services to their clients. They receive advertising service from AtoZ company. Let's see how service tax details can be defined in a scenario, where a company renders a service and receives a service.
To Define Service Tax Details for D-Day Events
Go to Gateway of Tally > F11: Features > Statutory and Compliance.
Enable the option Set/alter service tax details.
Set the option Enable creation of tax classifications at master level to yes.
Press Enter.
Press Ctrl + A to save the details.
Create a purchase ledger as shown below. Click the image below to go to the step-by-step procedure of creating a purchase ledger
On selecting the service tax ledger in the transaction, the service tax rate is calculated as shown in the screen below. Click the image below to go to the step-by-step procedure for recording a service tax purchase transaction.
'Defining Service Tax Rates at the Ledger Level' has been shared with
