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Service collected @ 5.25%
Am Anitha started my practicing with Auditor . i want to know about service tax collected @ 5.25%
Replies (2)
It is applied on bills which are in the nature of works contract where there is an abatement of 30% and on the value of service tax rate of 15% is calculated on 70% of the value on which receiver will bear 50% and provider will bear 50% which will work out to 5.25%
15%*70%*50%=5.25%
thank you very much sir got it
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