How to calculate rcm.

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 January 2014 we have hiring moter vihical (30000) on monthley rent basic exclude desial cost (45000).
how to we pay rcm only on rent bill (30000) or total bill (75000).

01 January 2014 Service tax shall be paid on invoice value i.e 75000/-.Service tax shall be paid on 40% of invoice value by the service receiver under reverse charge if the service receiver is a Body Corporate.



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