by Service tax, previously governed by the Service Tax Act, was replaced by GST on July 1, 2017. Under GST, service tax is subsumed into the GST framework, making it a part of the comprehensive tax structure
Generate GST Reports
Tally Prime offers various GST reports that help you manage your service tax obligations:
GSTR-1: Outward Supplies (including services)
GSTR-2A: Inward Supplies (auto-populated from your vendors)
GSTR-3B: Monthly Summary of GST (includes service tax details)
GSTR-9: Annual GST Return
Your business hires a consulting firm for management services, and the consulting fee is Rs. 10,000 with an 18% GST. Here’s how you would record this transaction in Tally Prime:
1 Enter a payment voucher in Tally Prime:
Debit: Consulting Expense Account – Rs. 10,000
Credit: Consulting Firm’s Account – Rs. 10,000
2 GST on Services (18%) – Rs. 1,800
3 Verify that the transaction is correctly recorded.4 Generate relevant GST reports in Tally Prime to include this service transaction.
