We have issued a Tax invoiced to XYZ party as follow…
Material Rs. 300000.00 Plus
Labour Rs. 200000.00
Total bill issued Rs.500000.00 And
tax charged likewise……..
Rs. 300000 X 5% (VAT) Rs.15000.00
Rs. 200000 X 10.3% (Service Tax) 20600.00
Final bill issued Rs. 535600.00.
Our nature of business is work contractor. My question is this is the right method for tax invoice?
Regards
Ranjan