Tax payment
This query is : Resolved
23 October 2015
We raise invoices by charging 14% service tax on freight brokerage on shipping lines.
However, shipping lines do not pay service tax and only pay basic amount after deduction TDS.
In such a case how to discharge our liability towards service tax ?
However, shipping lines do not pay service tax and only pay basic amount after deduction TDS.
In such a case how to discharge our liability towards service tax ?
24 October 2015
In case the contracted amount in inclusive of service tax then the service tax and value of taxable service may be computed by reverse computation.
Suppose 100 is the amount
Value f service = 100 X 100/114=87.72
Service Tax = 100 X 14/114=12.28
Suppose 100 is the amount
Value f service = 100 X 100/114=87.72
Service Tax = 100 X 14/114=12.28
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