Recording payment of Late Fee (Service Tax)

As per Sec 70 (1), if an assessee files service tax returns after the due date, a specific amount has to be paid as late fee.

For example , Serendipitous Clicks filed their returns after the due date, and hence attracted a late fee of ₹ 100.

To record payment of late fee

1. Go to Gateway of Tally > Accounting Vouchers > F5: Payment .

2. Click S : Stat Payment .

3. Click F12: Configure , and enable Allow Other Payment Types .

4. Select Service Tax as the Tax Type .

5. Enter 1-11-2015 in the field Period from and 30-11-2015 in the To field.

6. Select Late Fee in the Type of Payment .

7. Press Enter to save.

8. Select bank ledger in the field Account .

9. Select the expense ledger for arrears under Particulars .

10. Enter the Amount as 100.

11. Press Enter to save.

12. Enter the Bank Allocation details, as applicable.

13. Enter Narration , if required.

The payment invoice appears as shown below:

14. Press Ctrl + A to save.