Percent calculation of service tax
This query is : Resolved
11 June 2012
Dear Friends,
We have tie up with Blue Dart courier to carry out our daily courier requirements.
At the end of month we receive the invoice from them. This month also we have received an invoice.Details for which is given below.
Gross Total= 15518.50
Fuel Surcharge= 11538.75
TOTAL= 27057.25
Service Tax @12% on rs 27057.25= 3246.90
Edu. cess @2% on Rs. 3246.90= 64.94
Sec.& High cess @ 1% on 3246.90= 32.47
Grand Total= 30402
Now the question is total service tax percent comes around 12.36%, How did the 0.36% come from behind 12%
Could anyone prove this 0.36% theory.
Regards
Santosh Sharma
We have tie up with Blue Dart courier to carry out our daily courier requirements.
At the end of month we receive the invoice from them. This month also we have received an invoice.Details for which is given below.
Gross Total= 15518.50
Fuel Surcharge= 11538.75
TOTAL= 27057.25
Service Tax @12% on rs 27057.25= 3246.90
Edu. cess @2% on Rs. 3246.90= 64.94
Sec.& High cess @ 1% on 3246.90= 32.47
Grand Total= 30402
Now the question is total service tax percent comes around 12.36%, How did the 0.36% come from behind 12%
Could anyone prove this 0.36% theory.
Regards
Santosh Sharma
11 June 2012
Cess of 3% on 12% comes to 0.36
So 12+0.36 comes to 12.36%.
So 12+0.36 comes to 12.36%.
11 June 2012
3% on 12% Service Tax is the Education Cess.
11 June 2012
thank you sir's.
regards
santosh sharma
regards
santosh sharma
11 June 2012
3 % Cess on service Tax Rate
Service Tax Rate= 12%
3% cess on Service tax= 12*3%=0.36%
Total Service Tax = 12.36%
Service Tax Rate= 12%
3% cess on Service tax= 12*3%=0.36%
Total Service Tax = 12.36%
11 June 2012
thank you anshul sir, bhardwaj sir, ravi sir
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