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HOW TO CALCULATE SERVICE TAX

This query is : Resolved 

12 December 2008 HOW TO COMPUTE SERVICE TAX IN WORKS CONTRACTS WHERE THE CONTRACTORS CHARGING VA in composite scheme.

Is the below process is ok?

Say Groos amount 100

Vat 4% 4

Total 104

service tax
33% on 12.36% on 100=4.07

Net amount 112.07

12 December 2008 Say Gross amount 100

Vat 4% 4

Total 104

service tax
33% on 12.36% on 100=4.07

Net amount 112.07

yes it is fine but if we calculate it under work contract service then

Say Gross amount 100

Vat 4% 4

Total 104
Less VAT as per rule tax is to be calculated on 100

service tax
100 @ 4.12% =4.12
Less Input Service Tax Credit 1

Balance tax liabilty to be paid 3.1



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