Service compnent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 April 2013
Example : i am receiving one bill include service tax bill amount 40745.00 but service component amount only 6000. + 12.36% so how to calculate service component amount
Example : i am receiving one bill include service tax bill amount 40745.00 but service component amount only 6000. + 12.36% so how to calculate service component amount
26 April 2013
service component is the part which is actually service in a composite contract.
it can be calculated by either maintaining books of accounts and separating service and sale tax differently or simply by using the abatement on various service as per notification no 26/2012
if a bill is for 100 and 60% abatement then service component is 40% on which tax will be charged @ 12.36%
Note: Its possible in case of composite services where 'sale + service' are there and not in case of all services. like in a restaurant a bill of food contains goods(vegetables etc) and also service(cooking etc)
it can be calculated by either maintaining books of accounts and separating service and sale tax differently or simply by using the abatement on various service as per notification no 26/2012
if a bill is for 100 and 60% abatement then service component is 40% on which tax will be charged @ 12.36%
Note: Its possible in case of composite services where 'sale + service' are there and not in case of all services. like in a restaurant a bill of food contains goods(vegetables etc) and also service(cooking etc)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
