calculation vat service tax works contract


FM writes to state to reduce burden of VAT on petroleum products

Finance Minister Sh Arun Jaitley writes to State Chief Ministers to reduce burden of Value Added Tax on Petroleum Products used for manufacturing The Union Minister of Finance Defence and Corporate Affairs Shri Arun Jaitley has written to State Chief Ministers urging the States to reduce burden of V

Clarification regarding number of Taxpayers added after Demonetization

Various news reports articles have appeared in the media regarding inconsistency in the estimates of the number of taxpayers added after demonetization It has been commented that the following different figures have been given at different forums by different authorities i The Prime Minister mention

Last date for GST payment and GSTR3B return extended by 5 days

LAST DATE FOR PAYMENT OF GST AND FILING OF RETURN FOR JULY 2017 EXTENDED BY 5 DAYS The last date for payment of taxes and filing of GST Return in Form 3B for the month of July is 20th of August 2017 Since it is the first Return to be filed under GST the tax payers and the tax practitioners have requ

Clarification regarding transitional credit and extension of GSTR3B

Government of India Ministry of Finance 17 August 2017 20 03 IST On Clarification regardingavailability of Transitional Credit for GST As per the rules the Goods and Services Tax GST for the month of July 2017 has to be paid by 20th August 2017 Only after the payment of full GST return in summary Fo

Direct Tax Collections grows 19.1 percent upto July 2017

The Direct Tax collections up to July 2017 in the Current Financial Year 2017 18 continue to register steady growth Direct Tax collection during the said period net of refunds stands at Rs 1 90 lakh crore which is 19 1 higher than the net collections for the corresponding period of last year This co

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Experts Opinions

itc carry fwd of centralised registration under service tax

Credit may be transferred to any of the Registered Persons having the same PAN for which the centralised registration was ob tained My client has centralised registration in delhi and working only through gurgaon office the centralised regoistration certificate does not have gurgaon office in RC its

Input tax credit under rcm

Mr A supplying Nil rated goods While purchasing goods Mr B Charged SGST 2375 and CGST 2375 on Supplies and Mr A has to pay SGST 1350 and CGST 1350 on Rent under RCM he has no taxable outward supplies Every month is repeated same Mr A can not use ITC for Paying tax GST under RCM Now my Query is How c

Tax audit, income tax

If the turnover of the Partnership Firm is below One Crore and Net income showing loss for the financial Year 2016 17 in this case whether Tax Audit is compulsory or ITR can be file without tax audit

Rent a cab service

Mr X takes taxis on rent and supplies the taxis to corporates on monthly basis Mr X does not own any vehicle he enters into agreement with various corporates for supply of vehicle 1 whether this service qualify for taxi Aggregator 2 As none of the vehicle owners are registered Mr X has to pay GST un

Service tax input credit

We have received an invoice after Q1 Books of accounts closed with invoice date 26 06 2017 with service tax input 30000 Now we can not go back and make entry and when we asked the vendor he said he has filed service tax return and revised it also in the month of july 17 and can not issue new invoice


TAX on invoices raised before 1.7.2017 and payment received on or after 1.7.2017

if the invoice is raised in the month june 2017 invl service tax and the payment is received in the month of july 2017 whether the amount received is chargeable to tax under Service tax or GST

Tax credit under gst

An assessee having closing Cash balance in Account Current PLA under the Central Excise and duly reflected in the return for June 2017 What will be the fate of the cash balance

Tax on selling power from solar plant

Hi friends Can any one guide me on following This question is raised as I heard many tax holidays under section 80 I 4 on solar power have been removed from April 2017 1 Taxes and duties on selling electricity from Solar power plants to private or govt 2 Incometax on above

Gst for electrical contract

We are the Electrical Contractors and our Invoices are supply intallations which involves suppluy of Goods also Services We are collecting 18 as integrated GST But some one says it is 28 since it include supply of goods Also we are using the SAC Code995461 for billing Please clarify the exact rate o

Short refund of income tax refund for f.y 2016 -2017

What to do when Income is not taxable i e 1 29 000 and tds Deducted 9363 and refund received only 1060 i talked with cpc bangluru and rectification department but all theyare helpless they cant solve the problem please anybody can solve this problem i received initimation 143 1 after request on satu

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  • Direct Tax Law Answers

    I am posting my answers with questions please check the same and tell me the mistakes
  • Reverse Charge Mechanism on Expenses

  • GST Computation Sheet

    This excel sheet is useful for calculation of actual GST payable refund Users can use it on monthly basis as well
  • GST Tax Invoice Format

    GST Tax invoice format having formulas
  • Automatic Invoice Software in Excel (GST compliant)

    Full Fledge Billing Software for Business 1 Complete Billing Software 2 100 GST compliant with format published by GST Council 3 Retail and Tax Bill Bifurcation 4 Automatic applicable IGST CGST and SGST calulation 5 Transfer all bill data to another sheet automatically for analysis 6 Automatic Challan Generation 7 Perfect Print Setup 6 One Click Printing 7 One Click Back up of each invoice in different Folder 8 Back up will be retail bill wise and Tax Bill Wise 9 Completely working based on formula 9 Flexible Formulas 10 Full Customized 11 Client Database with each and every detail 12 No need to input details of party every time 13 only put x in the first column of database and all the details will be transferred to invoice sheet Filters will not work in trial version Pro Version 1 Automatically cloud backup of all invoices 2 Automatic GST rate calculator based on HSN Code will be available as soon as GST rates are published 3 Automatic GST rate calculator based on Name of Goods 4 Monthwise analysis of Party wise sales month wise IGST SGST CGST liability calculation 5 1 week trailing for GST return filing and this software with the fulfillment of the custom requirement of business 6 Automatic transfer of sales invoice data in the form of outward return of GST outward return is to be filled in form GSTR 1 every month 7 Free 1st GST return filing

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Reversal of Input Tax Credit

If a person who is paying tax in normal scheme and wants to shift to Composition scheme or where goods or services supplied by him become wholly exempt he has to paycredit of input tax in respect of inputs held in stock and inputs contained in semi finished or finished goods held in stock and on cap

Tax Audit (Sec 44AB) limit for Business is 1 Crore or 2 Crore?

What is Audit Audit means an inspection of books of accounts by some officials or some specified persons for the purpose of establishing the fact that the accounting records present a true and fair view Types of Audit There are two types of audit namely Statutory audit and Tax audit What is Statutor

Only Registered taxpayer have Freedom in GST!

Arjuna Fictional Character Krishna 15th August is the Independence Day of India Freedom fighter fought in 1947 for Independence of the country From last month GST has been applicable So on the occasion of this Independence Day what information about GST would you give Krishna Fictional Character Arj

Meaning of supply, time of supply and value of taxable supply

Meaning and Scope of Supply Q 1 What is the taxable event under GST Ans The taxable event under GST shall be the supply of goods or services or both made for consideration in the course or furtherance of business The taxable events under the existing indirect tax laws such as manufacture sale or pro

Stock in hand under GST - Treatment of Cenvat Credit and VAT Credit

Stock in hand under GST Transitional Provisions related to Stock in hand under GST While understanding the transitional provisions under GST a repeated and imminent query which we are faced with is the treatment of CENVAT and VAT Credit in respect of stock held on 30th June 2017 which will be sold p

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Updated on : 8/21/2017 6:38:19 PM


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