Applicability of Service Tax
This query is : Resolved
17 August 2010
A Coaching Institute received Rs.1,60,000/- against Admission Fee, Rs.8,50,000/- against Tuition Fee and Rs.4,00,000/- against Study Material & Books.
What is Taxable Service & How much will be the Service Tax?
Thanks
What is Taxable Service & How much will be the Service Tax?
Thanks
Gagan Agarwal
(Expert)
27 August 2010
You need to charge service tax @10.30% on the entire value of consideration received (ie Rs. 14,10,000)
However, you can claim exemption from service tax on the value of study material and books supplied if the books are standard textbooks, which are priced. In case this condition is not satisfied, exemption cannot be claimed.
However, you can claim exemption from service tax on the value of study material and books supplied if the books are standard textbooks, which are priced. In case this condition is not satisfied, exemption cannot be claimed.
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