What is Import of service ? As per service tax rules, import of service is any service provided from outside India and received in India. Tax on such services is known as tax on import of services and the service receiver is liable to pay service tax on import of services. The service tax paid […]

Reverse Charge is paid by service receiver instead of service provider. With effect from 01-07-2012, some more service categories have been included under Reverse Charge. Under this approach, for the payment of service tax, service receiver cannot claim the general exemption of 10 lakhs. Under this scheme new services with partial reverse charges are introduced. […]

To modify tax details in transactions 1.     Click F12: Configure in the voucher. 2.     Set the option Allow modification of tax details for service tax? to Yes. 3.     Press Ctrl+A to save changes and return to voucher. 4.     Select the required sales ledger. The Sales Tax Allocation screen appears. 5.     Click F12: Configure. The Service Tax Details Configuration screen appears. […]

On 30-06-2016, AtoZ Company paid ₹ 2,800 as service tax, ₹ 100 as Swachh Bharat cess, and ₹ 100 as Krishi Kalyan cess to the department from their State Bank of India account. To record the regular service tax payment transaction 1.     Go to Gateway of Tally > Accounting Vouchers > F5: Payment. 2.     Click S: Stat […]

To record payment of Swachh Bharat Cess 1.     Go to Gateway of Tally > Display > Statutory Reports > Service Tax Reports > Form ST 3. Note: The payment entry can be initiated from: ■    Accounting Vouchers menu option by clicking F5: Payment. ■    Form ST-3 report. ■    Return Transaction Book by selecting the saved return. 2.     Save the return by clicking F6: Save. […]