Dear friends
clarifed the following problem
October to till date the service tax on the purchase 15,25,000
October to till date the service tax on the sales 18,75,000
But How Much payable the service tax
2 Replies
Jeevesh Mehta
(Advocate- Corporate Commercial & Indirect Tax Advisory)
(861 Points)
Replied 11 March 2010
Service Tax payable would be : 1875000- 1525000 = 350000
But you have to determine whether the service tax paid on purchase qualifies as tax paid on input or input services. Also it has to be determined whether purchases includes any capital goods.
Regards
CA Priya
(CS Final)
(1049 Points)
Replied 11 March 2010
Exactly....... Its straight and clean..... Deduct your credit from your liability while u consider whether the dealer is registered and providing St amount and his reg no in his invoice........
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