What is the method to Calculate E.C & SHEC on service tax amount ?
The final amount is Rs.7062. while making e-payment in aces it asks for separate E.C & SHEC .
help me with this ..
5 Replies
sushil kumar
( CA Final-Audit Assistant)
(528 Points)
Replied 05 March 2013
Dear,
Service tax = 7062*12/12.36= 6856
EC= 6856*2%= 137
SHEC= 6856*1%= 69
Aman
(Finance Professional)
(604 Points)
Replied 05 March 2013
the service tax applicable is 12.36% with EC & SHEC..
if total amt is Rs.7062 then the total cess amt will be... (7062*3)/103 = Rs.205.68 out of this EC will be 2/3 of 205.68 i.e, Rs.137.12 & SHEC will be Rs.68.56...ST without Cess will be (7062*100)/103 = RS.6856.31....
hope u understand..if want any clarification then i am here...
Devendra
(Chartered Accountant)
(4775 Points)
Replied 05 March 2013
Hi,
Please refer the file below for the Answer.
Regards,
Devendra Kulkarni
Attached File : 169003 1145542 service tax ec and shec.xls downloaded: 213 times
CA CS Akashdeep Singh
(Practicing CA)
(1394 Points)
Replied 05 March 2013
Dear, Service tax = 7062*12/12.36= 6856 EC= 6856*2%= 137 SHEC= 6856*1%= 69
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