calculation of service tax
This query is : Resolved
14 August 2007
sir,
i am an commission agent and i as per my agreement get the commsion including serice tax the principal does not pay us any think other than commmision inname of sevice tax so can i calulate the basic amount fot the service tax after diducting the serive tax amount from it
i am an commission agent and i as per my agreement get the commsion including serice tax the principal does not pay us any think other than commmision inname of sevice tax so can i calulate the basic amount fot the service tax after diducting the serive tax amount from it
14 August 2007
for example I receive commisionrs.100[including serive tax as per agreement] than do i have to pay serive tax on rs.100 or after deducting the serive tax part from it.
15 August 2007
Dear Sir
There is very clear provision by the Finance Act 1994. Cum tax working is very much permitted vide Explanation 2 to Sec 67. Thus if you receive grossly Rs 100 (without any separate service tax charge thereon)your service tax shall be -
Service Charge - Rs 89
Service Tax @12.36%- Rs 11
There is very clear provision by the Finance Act 1994. Cum tax working is very much permitted vide Explanation 2 to Sec 67. Thus if you receive grossly Rs 100 (without any separate service tax charge thereon)your service tax shall be -
Service Charge - Rs 89
Service Tax @12.36%- Rs 11
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