As per Rule 6 sub-rule (1A), all the taxable persons can pay service tax in advance. Service Tax paid in advance is allowed to be self-adjusted towards Service Tax liable to be paid for the subsequent period.
On 01-04-2015, D-Day Events paid advance service tax of ₹ 12,360 to the Government towards Event Management Services.
To record an advanced payment
Go to Gateway of Tally > Accounting Vouchers > F5: Payment
Click on S: Stat Payment.
Select Service Tax as the Tax Type.
Enter 1-4-2015 in the Period from field and 30-4-2015 in the To field.
Select Advance in the Type of Payment.
Press Enter.
Select bank ledger in the Account field.
Select the expense ledger for arrears under Particulars.
Enter the Amount as 12360.
Press Enter.
Enter the Bank Allocation details, as applicable.
Press Enter.
Enter Narration. if required.
The Payment invoice appears as shown below:
Press Ctrl + A to save the invoice.
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