Now while making FBT calculation if i take whole telephone bill amount it means i am paying FBT even on Service Tax and it will be like double taxation.
Please suggest what is a proper way. Wheather to take telephone bill excluding serv. tax or including service tax for FBT calculations
04 June 2008
Since the provisions are not clear whether to exclude service tax element in Telephone etc., it is better to pay FBT on total amount. If you are not eligible for Cenvat credit obviously you have to pay on total amount.
CAclubindia
