Applicability of service tax
This query is : Open
19 November 2012
Dear Sir,
We are in the business of restaurants and hence forward we will be entering the catering business so i want to know whether service tax will be applicable and if so what will the vat and service tax structure if i am raising the bill for Rs 12,00,000/- all inclusive (ie.lunch @ Rs 1000/- for 1200 persons)
Regards
Daniel
We are in the business of restaurants and hence forward we will be entering the catering business so i want to know whether service tax will be applicable and if so what will the vat and service tax structure if i am raising the bill for Rs 12,00,000/- all inclusive (ie.lunch @ Rs 1000/- for 1200 persons)
Regards
Daniel
CA CS Amit S. Kedia
(Expert)
19 November 2012
Yes, Service tax would be chargeable on 60% of total amount i.e value of service will be 60% of total amount of Rs. 1200000 which comes to Rs. 720000 and service tax would be chargeable @12.36% on Rs. 720000.
Message likes :
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19 November 2012
Dear Sir,
What about the vat rate applicability and on which amount
Regards
Daniel
What about the vat rate applicability and on which amount
Regards
Daniel
CA CS Amit S. Kedia
(Expert)
19 November 2012
VAT shall also be charged @5% of total amount
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1 times
07 May 2013
Dear Sir,
We are into restaurant industry having air condition in all our outlets but do not have liquor serving licence, we have collected service tax from guests and I want to make the payment if you could please help me with the code under which I need to make the payment
We are into restaurant industry having air condition in all our outlets but do not have liquor serving licence, we have collected service tax from guests and I want to make the payment if you could please help me with the code under which I need to make the payment
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