Service tax and vat
This query is : Resolved
03 August 2012
Hello,
One of my party has provide goods o Rs.5,00,000/- to govt. sector. Amount include charges of labour also.
Party is liable for service tax and VAT.
if they make one invoice of Rs.5,00,000/- then how to calculate service tax and VAT
Please help..........
One of my party has provide goods o Rs.5,00,000/- to govt. sector. Amount include charges of labour also.
Party is liable for service tax and VAT.
if they make one invoice of Rs.5,00,000/- then how to calculate service tax and VAT
Please help..........
03 August 2012
Hi Dhaval,
If you rising single invoice for both, then breakup for goods & labour charges should be separately shown.
So that VAT on goods & Service tax on labour charges can be readily calculate.
Out of Rs.5L you need bifurcate good value & labour charges.
If your rendering labour charges free of cost then service tax will not applicable.
If you rising single invoice for both, then breakup for goods & labour charges should be separately shown.
So that VAT on goods & Service tax on labour charges can be readily calculate.
Out of Rs.5L you need bifurcate good value & labour charges.
If your rendering labour charges free of cost then service tax will not applicable.
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03 August 2012
suppose Party has given price of Rs.100/- per unit which include price of goods and labour charges.
separate charges are not given so is it necessary to mention labour the charges in bill ?
and is there any provision for 4.12% S.tax on total amount ?
separate charges are not given so is it necessary to mention labour the charges in bill ?
and is there any provision for 4.12% S.tax on total amount ?
03 August 2012
If your able to bifurcate consideration of Rs.100 into value of goods & amount for labour charges, then you can mention it on invoice.
Service tax @ 4.12% is applicable for Works contract.
In your case applicability of works contract can be determined only after knowing nature of labour charges.
Service tax @ 4.12% is applicable for Works contract.
In your case applicability of works contract can be determined only after knowing nature of labour charges.
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