Somebody pay an amount of 6000 towards course fees including service tax of 10.3%. To Segregate this 6000 to fees and tax amount we divide 6000/1.103
My question is how do we get this 1.103????
Please help me
thanks in advance
Regards,
Biju
13 Replies
Punit Tibrewal
(student )
(1684 Points)
Replied 08 December 2009
6000/(100+10.3)%
= 6000/110.3%
= 6000/1.103
CA Trinath Galla
(student)
(3130 Points)
Replied 08 December 2009
hey biju...dat 1.103=110.3/100.
as it i sinclusive of service tax, we should take the entire amount as 110.3%.
therefore fees=6000*100/110.3 i.e., 6000/1.103.
Deep@k $ingh@l
(CA>FINAL May'14)
(595 Points)
Replied 08 December 2009
In ths question service tax is included with fee. Thus to find out actual amount of fee, we divide total fee by 110.3% i.e. 110.3/100. Thus it becomes 1.103 Ok
Ridhi
(job)
(63 Points)
Replied 08 December 2009
10% is service tax rate + 2% edu cess and 1% higher edu cess on dis 10% (say total 3%)=10.3% total tax
then suppose Rs. 100 is da value of service rendered then, there would be Rs.10.3 service tax so the total amout to be charged including service tax will be 110.3
Now we have paid 6000 as total amount so it is equivalent to 110.3 so v divide 6000 by 110.3 and now if we multiply it by 10.3 we get the tax and if we multiply it by 100 v get da amout of service rendered excluding tax
(6000/110.3*10.3=service tax ) (6000/110.3*100=value of service rendered excluding tax)
i hope it helped u
PRAVEEN KUMAR
(MBA (Finance) B.Com.(P))
(3443 Points)
Replied 08 December 2009
:-) nicely explained by all.
Raj Suresh Jori
(Article)
(22 Points)
Replied 09 December 2009
Formula: (1+ r/100) ( r means rate of tax)
= 6000
Recent Topics
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- Nznxnc call me at the end of the day of the
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
Related Threads
CAclubindia
