FBT
This query is : Resolved
22 January 2009
A partnership firm incurs Telephone expenses it includes service Tax and also subject to FBT. So, FBT is calculated on Service Tax portion also. Whether it is Tax on Tax??????
22 January 2009
FBT is an expenditure tax. If service tax credit is taken then it will not be consoidered for FBT.
But if service tax amount is debited to expense account, then it will attract FBT
But if service tax amount is debited to expense account, then it will attract FBT
23 January 2009
Agreed with Deepak Ji.
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