26 November 2011
Dear all, Greetings for the day. i have a query about service tax. Let i receive a invoice from vendor amounting Rs.5,00,000/- and vendor forget to charge service tax. is it my responsibility to deposit service tax on behalf of him. if yes, what is the rate? is it 10.3%. means 5,00,000/110.3*100=Rs.453,309/- so, service tax will be Rs.46,690/-.... Is it right?
CAclubindia
