07 May 2010
My client is a outdoor caterer taxable under both VAT & Service Tax. My query is how should he generate bill. For ex:
He has a bill of 100000/- Service Tax applicable @ 5.15% Vat applicable @ 14%
Whether he should charge service tax on basic and then charge VAT on the sum of two i.e. Basic Price 100000 Ser.Tax @ 5.15% 5150 Total 105150 VAT @ 14% 14721 Bill Value 119871
Is the above calculation right. Please reply with suitable rules if any
07 May 2010
As my understanding in your query the caterers claiming abatement scheme under Service tax ( because he is charging VAT & ST both ) but the Assessable value under Specific state VAT act you need to check with the Local VAT act. whether assessable value inclusive of Service tax or not please refer the same
CAclubindia
