Interest on Service Tax Video Lecture | Tally ERP 9: Complete Training - Software Development

in sales tax in Terry first of all you
have to create statutory and Taxation
feature and except enable sales tax yes
and certain altar sells its extra detail
yes
now you have to create main three laser
comes one is the statistics other is
your income and third is interest or
penalty on sales tax I already created
it suppose we have coaching Institute
and we earn the fees it should be
written under interacting companies and
is a service tax applicable and you have
to write yes and then service tax
service tax
you have to create a sales tax under
duties and taxes type of duty and
accessor must be service tax and
category you have to choose what
services are you providing and accepted
and one more is interest on service tax
interest on service tax is the expenses
of business so interest or penalty
should be under in tactics not a duty
and taxes and is sales tax applicable it
should be right yes and accept this
laser comes now you have to pass virtual
entries in accounting vouchers I already
passed it so I am showing in a display
and a book of I seep the fees suppose
one year ago I assumed received our fees
from my year students 1000 and service
tax is also shipped from my student that
is ten point three year it is a 103 now
this 101 103 is the liability of our
business but if I will pay this service
tax next year the gap is one year so I
have to pay interest with this sales tax
when I pay to government so next year I
will be a service tax plus interest on
sales tax in the payment voucher
suppose I am paying to HDFC bank our
service tax should right here and I
calculated interest on service tax and
total payment will be done through check
116 point 39 now this interest one tax
will show in my profit and loss account
detail this is a business expenses and
this is interest on service structure
thank you very much