Vat and service tax
This query is : Resolved
27 August 2012
If vendor charges the Invoices with Vat and Services tax what would me accounting treatment for the same. should we deduct WCt and TDS amount on labour charges
27 August 2012
Apart from deducting TDS, if the bill is dated after July 12 you will have to pay service tax 12.36% on the same taxable turnover shown by the works contractor, if you are a company registered under companies act. Please see the service tax notn 30/2012.
28 August 2012
Yes I agree with Mr. Rengaraj
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