Service tax
This query is : Resolved
31 July 2010
When we collected some advance amount in respect of vat tax turnover proportionately it effects service tax, how much amount we have to pay
31 July 2010
Calculate the proportionate taxable value based on the service and scheme opted and pay the service tax
31 July 2010
Gross up the value received inclusive of VAT & Service tax and pay whatever amount u get for service tax part in it.
31 July 2010
Pls Reverse calculate Vat & Service Tax on Avance Received and pay service Tax and keep the proper recrod of the same that to be adjsuted with RA Bill or Bills raised after the completion of the services.
If Amount received Rs.45941.00 add the tds on it as 1% or 2% therafter add Vat as applicable in the state then arrived Gross Taxable Value for Service Tax.
Rs.45941*100/98 =938 added with 45941=46879
Rs.46879*80%*12.5%= Rs.4134 added in 46879
Rs.46879 is TV on which 10.30% shall be charged
If Amount received Rs.45941.00 add the tds on it as 1% or 2% therafter add Vat as applicable in the state then arrived Gross Taxable Value for Service Tax.
Rs.45941*100/98 =938 added with 45941=46879
Rs.46879*80%*12.5%= Rs.4134 added in 46879
Rs.46879 is TV on which 10.30% shall be charged
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