Advance Payment (Service Tax)
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.
For example, on 30-06-2016, D-Day Events paid advance service tax of ₹ 9,100, Swachh Bharat cess of ₹ 325 and Krishi Kalyan cess of ₹ 325 to the government towards event management services.
- Gateway of Tally > Vouchers > press F5 (Payment).
Alternatively, press Alt+G (Go To) > Create Voucher > press F5 (Payment).
- Press Ctrl+F (Autofill).
- Select Stat Payment
- Select Service Tax as the Tax Type.
- Enter the dates in the field Period from and To.
- Select Advance in the Type of Payment.
- Press Enter to save.
- Select bank ledger in the field Account.
- Select the current liability ledger for service tax advance under Particulars.
- Enter the Amount as 9,100.
- Press Enter to save.
- Select the current liability ledger for Swachh Bharat cess advance under Particulars.
- Enter the Amount as 325.
- Select the current liability ledger for Krishi Kalyan cess advance under Particulars.
- Enter the Amount as 325.
- Enter the Bank Allocation details, as applicable.
- Enter Narration, if required.
The payment invoice appears as shown below:
17. Press Enter to save.
