GROSS AMOUNT VS BASIC AMOUNT
This query is : Open
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.
27 September 2010
Net of Service Tax. i.e. basic amount as you have mentioned.
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