Calculation of vat & service tax in composition schem
This query is : Resolved
07 January 2013
Dear Sir,
Assesee is a registered dealer and a works contractor covered under composition scheme of maharashtra, pvt ltd co.
Assessee is a interior decorator and works contractor charges vat and service tax as following , wef 01/07/2012:
example:
A)total contract price Rs 100
servie tax on 60% @ 12.36% Rs 7.42
vat on 40% @ 12.50% Rs 5.00
B)total contract price Rs 100
vat on 100% @ 8% Rs 8.00
Service tax on 60% @ 12.36% Rs 7.42
now my question is which one from above is correct in maharashtra ?
or there is another method
Thank You in Advance.
Please Reply.
Assesee is a registered dealer and a works contractor covered under composition scheme of maharashtra, pvt ltd co.
Assessee is a interior decorator and works contractor charges vat and service tax as following , wef 01/07/2012:
example:
A)total contract price Rs 100
servie tax on 60% @ 12.36% Rs 7.42
vat on 40% @ 12.50% Rs 5.00
B)total contract price Rs 100
vat on 100% @ 8% Rs 8.00
Service tax on 60% @ 12.36% Rs 7.42
now my question is which one from above is correct in maharashtra ?
or there is another method
Thank You in Advance.
Please Reply.
25 July 2013
Your caalculation as per A) is correct
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