consider value for service tax calculation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 February 2010
hi........
i am confuse to determined for net value for service tax amount.detail with example
Amount Due. 1000/-
Ser. tax@10.3% 103/-
Total Amount- 1103/-
Deduct TDS @10% 110.3/-
Received Amount 992.7/-
Now tell me is service tax calculate on total amount or received amount?
Plz as soon as possible
i am confuse to determined for net value for service tax amount.detail with example
Amount Due. 1000/-
Ser. tax@10.3% 103/-
Total Amount- 1103/-
Deduct TDS @10% 110.3/-
Received Amount 992.7/-
Now tell me is service tax calculate on total amount or received amount?
Plz as soon as possible
24 February 2010
Service Tax is always calculated on the invoice value and not on the deducted value.
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 February 2010
Thank you sir ,
But as per rule service tax is payable when amount is received
But as per rule service tax is payable when amount is received
24 February 2010
Rs.103 only to be treated as received.TDS deducted also to be treated as receipt
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