17 February 2014
VAT and Service Tax to be charged : 60% VAT and 40 % service tax. I.e if billing is Rs 100, then 60% i.e Rs 60 VAT to be charged and 40% i.e Rs 40 service tax to be charged.
Aprat from than if Service Provider is Individual, HUF, AOP then service provider to be charged only 50% of his liability i.e in above case Service provider to be charged Rs 20 in the invoice and Rs 20 should be paid by the service receiver.
CAclubindia
