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Service tax
Gross Amount
It is on gross amount...!!!!!!!
It has been clarified by CBDT vide Circular No. 1/2014 dated 13th Jan 2014 wherein they have clarified that TDS on Rent is to be deducted on the amount paid exclusive of Service Tax.
Therefore in the above scenario, the Tax on Rent would only be on the Actual Rent paid and the computation has been shown below
|
Rent |
20,00,000 |
|
|
(Add) |
Sevice Tax @ 12.36% |
2,47,200 |
|
(Less) |
TDS on Rent @ 10% on amount excluding Service Tax |
(2,00,000) |
B Sure, Dont deduct TDS on service tax amount.. Deduct TDS only on amount exclusive of ST
should service tax be levied @ 12.36% in april 2015 on various taxable services or @ 14%+2%?
it is only 12.36 % as of now... and new rate wil b notified in around mid may.til than use old rate
nitika service tax has to be charged @ 12.36%
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