Provision

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13 November 2010 HOW TO MAKE ENTRY OF SERVICE TAX PROVISION IN TALLY 9. WHEN DO WE PASSED THE ENTRY OF ST PROVISION ?

13 November 2010 as per my knowledge:
SALES: 1.1.2010
Customer a/c Dr. (Under Sundry Debtor)
Sales a/c Cr.(Under Sales)
Service Tax Receivable a/c Cr.(Under current Asset)

RECEIPT: 1.2.2010
Cash / Bank a/c Dr. (Under cash/bank )
Customer a/c Cr.

JOURNAL: 1.2.2010
Service Tax Receivable a/c Dr.
Service Tax Collected a/c Cr. (Under current liability a/c)

PURCHASE:1.1.2010
Purchase a/c Dr.(Under Purchase )
Service Tax Payable a/c(Under C.liablity)
Vendor a/c (Under sundry Creditor)

PAYMENT: 1.2.2010
Vendor a/c Dr.
Cash/Bank a/c Cr.

JOURNAL:1.2.2010
Service Tax Paid A/c Dr. (Current Asset)
Service Tax Payable A/c Cr.

end of the month you need to pass the journal difference between above both journals whether payable or adjustment.

please let me know your understanding.

13 November 2010 Thank you sir.




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