About the valuation of service tax payable
Querist : Anonymous
the formula to be applied as
Amount received * 10.3/110.3
when the service was provided of Rs 5,000 and no seperate calculation for service tax was made
or when the bill was raised for Rs 5,515 but the amount was either partly received or the amount of service tax was not recieved
5515 / 110.3 * 100 = Rs. 5,000
the method will be
10000/100*10.3 =1030
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