Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 17 April 2016
Jagdish
(CA CS activities)
(215 Points)
Replied 17 April 2016
Please make me correct if I am worng,
Amt Received Inclusive of ST 50000
Abatement is 75%
ST rate is 14%
the liability of ST is as below:
50000 / 103.5 * 100 = 48309.1787 ( amt exclusive )
48309.17 * 25% = 12077.2946 (amt after abatement)
12077.2946 * 14% = 1690.8212 ( amt payable as service tax)
-------------
ST rate is 14.5%
50000 / 103.625 * 100 = 48250.9047 ( amt exclusive )
48250.9047 * 25% = 12062.7261 (amt after abatment )
12062.7261 * 14 % = 1688.7816 ( amt payable as service tax)
12062.7261 * 0.5 % = 60.3136 (amt payable as swachh bharat cess )
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 18 April 2016
chandra sekar
(Manager-Accounts)
(387 Points)
Replied 04 May 2016
FYI, the abetment is revised wef 1.4.16, as 70% and payable is on 30%.
Jagdish
(CA CS activities)
(215 Points)
Replied 04 May 2016
On GTA and Construction of Residential complex both ?
CAclubindia
