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Sbc

srikumar (audit staff) (1203 Points)

06 February 2016

how to calculate sbc on service tax give some example

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Vineet Aggarwal (Accounts Officer) (316 Points)
Replied 06 February 2016

Calcuate Service Tax on SBC like for example service tax is 14000/14X0.5=500 this will be the SBC on Service Tax AMount

if you want to cacluate that Service Tax + SBC in one amount 14500 than the formula is 14500/14.5*14=14000.

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srikumar (audit staff) (1203 Points)
Replied 07 February 2016

Sbc is calculated on taxable service or service tax on 14%??

AmolM (Audit Assisstant) (55 Points)
Replied 08 February 2016

Visit this link for FAQ's on SBC

www.cbec.gov.in/htdocs-cbec/press-release/faq-sbc.pdf

Vineet Aggarwal (Accounts Officer) (316 Points)
Replied 08 February 2016

sbc is caculated on service tax @ 14% and you cannot adjust sbc with any other cenvat credit and also not adjust with sbc you are paying on your vendors bill.

AMBUJ SHARMA (CHARTERED ACCOUNTANT) (243 Points)
Replied 08 February 2016

Swaccha Bharat cess is calculated on the value of Service provided. i.e. if you have provided service of rs. 1000 then service on 1000 is 140 & swc will be 1000*.5% =Rs. 5.