Service tax and vat
Padmaja (student) (75 Points)
15 June 2014
I have found an invoice on which both st and Vat r charged ?
Is that correct?
5 Replies
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 16 June 2014
yes it is correct. the only thing you need to care about is that s.tax is charged on the service portion and vat is charged on items liable to vat.
Anil Prakash Jauhari
(CA Final student)
(179 Points)
Replied 22 June 2014
If both r charged on full amout then it will be wrong
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 22 June 2014
it is incorrect to charge both s.tax and vat on full amount. but yes, there can be one more thing that you must check. it may be possible that vat & s.tax has been charged on full value but at a reduced rate (i.e. s.tax may not have been charged at rate below 12.36%), so that if you calculate s.tax on service portion it comes to same value and same would be in case of vat.
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