MR.A, CA raised an invoice for 27575 to a client on 20.06.11 . The lcinet, however, hs paid a lumpsum 26000 on 28.10.11 for full and final settlemtn. How much service tax Mr.A has to pya and when does this tax become due for payment ? what will be his liability, if the client refuses to apy service tax and pays only 25000 in total
Discussion on service tax ca final - can anyone join now?
Page no : 11
Yogita
(Partner)
(434 Points)
Replied 19 September 2012
Reverse Mechanism Amt Recd 25000/- Divided by 100 + S T rate applicable X the S T rate & that is the
S T payable 25000 / 112.36 x 12.36 = S T Payable
I have considered S T rate of 12.36 which is at present however it may be different for Exams @ 10.3
Yogita
(Partner)
(434 Points)
Replied 19 September 2012
Mam what happened checking the answers or satisfied with the answers
Madhavi
(CA - FINAL)
(1342 Points)
Replied 19 September 2012
what are the provisions relating to best judgemtn assessmet under ST law?
Yogita
(Partner)
(434 Points)
Replied 19 September 2012
Sorry I was on some other Forum answering the query, However exactly you want to know about Best Jdgmt Asst Sec 72 of Finance Act 1994
Madhavi
(CA - FINAL)
(1342 Points)
Replied 19 September 2012
in that question of 25000 as he paid 28.10.11 so paymetn is 05.11.11. am i correct
Yogita
(Partner)
(434 Points)
Replied 19 September 2012
There is a prov of best Jdgmnt Asst where the assess fails to submit his returns u/s 70(b) or fails to assess the tax then the Cntrl Excise officer shall call for all the Records & after gvng an opportunity of being heard shall make the asst of the Srvc Value & the Tax there on & this is known as Best Jdgmt Asst
Madhavi
(CA - FINAL)
(1342 Points)
Replied 19 September 2012
hey i am getting sleep. ok bye good night. come early around 9pm upto 1 to 2 hrs we will dicuss question wise . ok bye
Yogita
(Partner)
(434 Points)
Replied 19 September 2012
Yes you are correct to your above answer but I can update you on POT that the POT rules of Invoicing are even now not applicable for Professionals. Pls check this provision in details, as this is a point where you can get a question to confuse the students in the paper
Yogita
(Partner)
(434 Points)
Replied 19 September 2012
Mam I get free from my work only by 10.30 - 11 pm so coming early is not possible, However I am sure you were happy getting the answers or no ?
Madhavi
(CA - FINAL)
(1342 Points)
Replied 19 September 2012
ya i like the way u r giving answers which i am able to understand the concept in question and answer type just like padhuka book.. thanks for the help, bye gn
Yogita
(Partner)
(434 Points)
Replied 19 September 2012
OK see you Tomoro, & you can take a quest on any Taxation DT IDT or Practical subject & you will get your answer & I can suggest you stop Paduka book & get a book of V S datey & see how strong you would become in your Concepts of whole IDT
Madhavi
(CA - FINAL)
(1342 Points)
Replied 19 September 2012
i purchased videeshwaran once again shall i buy another book
Yogita
(Partner)
(434 Points)
Replied 19 September 2012
Mam Nither Paduka nor the Book which you are refering is the Recommended book by ICAI, & all such books are nothing but a form of Big compilier of ICAI & V S Datey is the recommended book by ICAI & its a text book in real sense, Your concepts have to get cleared. OK you may not buy it but atleast go to some book store & have a look at it for few minutes & see how you feel, I am sure you will like it so much that you would stop all books & study from V S datey
Madhavi
(CA - FINAL)
(1342 Points)
Replied 19 September 2012
ok thank you i will do it. ok byee. let us discuss tommorrow
Recent Topics
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
Related Threads
CAclubindia
