Reversal of service tax
This query is : Resolved
15 January 2014
A company has received AC repairing service from an individual worth of Rs.8000/-
Material-7000/-
Labour charges-1000/-
Service tax not charged in bill by vendor & company has no contract with vendor.
In above condition Reversal of Service tax should be made or not??
Material-7000/-
Labour charges-1000/-
Service tax not charged in bill by vendor & company has no contract with vendor.
In above condition Reversal of Service tax should be made or not??
15 January 2014
Service tax shall be paid on 1000/- under partial reverse charge mechanism .
It is a work contract,as it is for repair of moveable property(a.c) and there is a transfer in property of goods used in repair.Service tax shall be paid on service tax portion i.e on Rs 1000/- @ 12.36 i.e 123.6 of which 50% shall be paid by comoany and 50% shall be paid by individual.
It is a work contract,as it is for repair of moveable property(a.c) and there is a transfer in property of goods used in repair.Service tax shall be paid on service tax portion i.e on Rs 1000/- @ 12.36 i.e 123.6 of which 50% shall be paid by comoany and 50% shall be paid by individual.
16 January 2014
your service tax rate 12.36% is wrong effective tax rate 8.652% and company paid by 50% service tax i.e.(4.326%) please suggested as per notification No.30/2012-st date 20.06.2012
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