21 December 2009
We are a traders of software. As per the new rules we are charging both service tax & Sales tax to our customer.
Eg. Software 1,00,000/- Service tax 10,300/- Total 1,10,300/- Sales Tax4% 4,412/- Grand Total 1,14,712/-
While filing of sales tax montly return we have to show as the sales done Rs. 1,10,300/- but actual sales turnover shows in our account as Rs.1,00,000/-. Can you please guide me will there be any problem for this case in future, sales tax assessment.
Also please inform me what amount should i consider in sales tax return filing as purchase amount. Is it should be inclusive of service tax or exclusive.
21 December 2009
because vat/cst is leviable on the sale price of goods including software (after tcs case of AP high court), your sale price as per vat/cst act is Rs.110300/- but for accounting point of view, your sales is Rs. 1,00,000/-. You can file reconciliation of this, before assessing authority whenever any clarification is demanded in this regard.
CAclubindia
