Ritesh Jain (CA, CS in Job) (675 Points)
06 December 2008If client does not pay full amount of invoice value.....then what amount service tax is to be paid.??????/
eg:-
100
+12.36=112.36 (invoice)
But actual payment:
112.36-20=92.36....20 deducted for LD charges......Then on what amount service tax is deposited
INVOICE VALUE
or
NET RECIEPT.
??????????????????
CA Hemant T Dewani
(Chartered Accountant)
(3356 Points)
Replied 06 December 2008
your receipts are includiong of service taxes so you will calculate the reversed mechanisum & pay the service tax
praveen
(Chartered Accountant)
(6971 Points)
Replied 06 December 2008
yes reverse mechanism will work
Amar Agarwal
(aaa)
(84 Points)
Replied 12 December 2008
you have to pay the full amount as the amount deducted is for LD charge which is different from the invoice amount.
OFFICESELVA
(Service)
(515 Points)
Replied 14 December 2008
The income (amount received including TDS) shoult be treated as cum-tax. Tax should be calculated accondingly. Further, taxable value+tax calculated should be equal to the amounts received.
CAclubindia
