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GROSS AMOUNT VS BASIC AMOUNT

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27 September 2010 I AM WORKING IN FIRM WHICH DO THE BUSINESS OF MECHANICAL CONSTRUCTION WORK IN REFINERY. I WANT TO KNOW THAT WHAT WILL BE THE SALE AMOUNT IN TRADING ACCOUNT BASIC VALUE BEFORE SERVICE TAX OR THE AMOUNT (GROSS AMOUNT INCLUDING SERVICE TAX) ON WHICH CONTRACTEE DEDUCT THE TDS.PLEASE CLARIFY THE MATTER IN RELATION TO CONTRACT.
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
27 September 2010 Net of Service Tax. i.e. basic amount as you have mentioned.
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