Video on Interest and Penalty on Service Tax in Tally.erp 9
As you all know, that I am also working in Finance and Accounting department with one company and I am looking entire accounts of my company. In spite of more than 16 years experience with Tally,I still not did not know many useful features available within in Tally.erp 9. Recently, I wanted to generate service Tax challan G.A.R. 7 from the Tally.erp 9 itself but the problem I was facing that it does not capture the penalty and interest code in the challan.
Now, instead of searching it over Google, i simply raised the problem on support center of Tally.erp 9 because accounting data and matter is always considered as confidential and you should ask it only to authorised people instead of searching over Google.
I just got response in 2 hours from the support center and it was really very easy to set up interest and penalty in Tally.erp 9.Tally support center sent me explanation along with an attachment to set up interest and penalty on Service Tax payable screen shot to generate G.A.R.7 correctly
What wrong I was doing that, that I had created interest on Service Tax ledger under duties and taxes and then service tax but after viewing the attachment, I realized my mistake that interest and penalty account to be created under expenses (indirect )Group. I did it and it worked like a charm
So, the moral of story when you face any problem in Accountancy or Tally ask it to authorised Tally service providers or direct to Tally Solutions. Use your Tally.erp 9 support center to solve all your query related to Tally.erp 9. Explore the Tally as much as you can.
I have uploaded a small video tutorial on the same which will help to understand it in a better way. The video tutorial is self-explanatory and you can browse You tube for more tutorials.