Vat & service tax on same bill
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2016
Dear All,
One of my client provide skin services. Generally these service are sold & billed in packages & customer has to pay the package amount. Now in package it includes both service & product sold. For example there is a package of Rs 40,000/-. In this package client will sold to customer product of Rs 12,000/- & balance is charged to service. But in billing we need to show the package cost + Vat+Service Tax. Now my question is:
1. How to make bill with VAT & Service tax bifurcation which is acceptable by both the department??
2. What is the method of charging service tax & VAT in case of part payment or payment in installment??
One of my client provide skin services. Generally these service are sold & billed in packages & customer has to pay the package amount. Now in package it includes both service & product sold. For example there is a package of Rs 40,000/-. In this package client will sold to customer product of Rs 12,000/- & balance is charged to service. But in billing we need to show the package cost + Vat+Service Tax. Now my question is:
1. How to make bill with VAT & Service tax bifurcation which is acceptable by both the department??
2. What is the method of charging service tax & VAT in case of part payment or payment in installment??
14 April 2016
U have to ascertain the amount of product sold then charging the vat in same and service tax on balance portion. For advance payment recd. Pay service tax on fraction value by dividing whole amount and multiplying service proportion to that amount and also gross up the amount that it will considered inclusive of service tax. And book the balance amount recd in advance as vat is payable only when sale is effected which means ownership and possession both r transferred.
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2016
Whether it is mandatory to show on which amount Service tax & VAT is calculated on Bill?
14 April 2016
No it is not mandatory
Message likes :
1 times
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
