Kindly somebody clear this query:
I issued invoices for AMC, and charging taxes as 70% of net value for dvat @ 12.5% & 30% of net value for service 12.36% tax.
I am in little doubt that is this method of taxation is right or not.
Suman (Accountant) (61 Points)
12 March 2015Kindly somebody clear this query:
I issued invoices for AMC, and charging taxes as 70% of net value for dvat @ 12.5% & 30% of net value for service 12.36% tax.
I am in little doubt that is this method of taxation is right or not.
CA AnKiT BoHrA (AB)
(Manager)
(25955 Points)
Replied 12 March 2015
it is right dear.. for AMC contracts usually i had seen bills like that in my company...
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 12 March 2015
This is a composite method of charging Tax for AMC when the Material and labour portion cannot be segregated
Prashant Gaikwad
(B.Com)
(53 Points)
Replied 15 March 2015
IN THIS CASES SERVICE RECEIVER IS DEDUCT TDS & WCT.
CAclubindia
