HOW TO CALCULATE SERVICE TAX
This query is : Resolved
12 December 2008
HOW TO COMPUTE SERVICE TAX IN WORKS CONTRACTS WHERE THE CONTRACTORS CHARGING VA in composite scheme.
Is the below process is ok?
Say Groos amount 100
Vat 4% 4
Total 104
service tax
33% on 12.36% on 100=4.07
Net amount 112.07
Is the below process is ok?
Say Groos amount 100
Vat 4% 4
Total 104
service tax
33% on 12.36% on 100=4.07
Net amount 112.07
12 December 2008
Say Gross amount 100
Vat 4% 4
Total 104
service tax
33% on 12.36% on 100=4.07
Net amount 112.07
yes it is fine but if we calculate it under work contract service then
Say Gross amount 100
Vat 4% 4
Total 104
Less VAT as per rule tax is to be calculated on 100
service tax
100 @ 4.12% =4.12
Less Input Service Tax Credit 1
Balance tax liabilty to be paid 3.1
Vat 4% 4
Total 104
service tax
33% on 12.36% on 100=4.07
Net amount 112.07
yes it is fine but if we calculate it under work contract service then
Say Gross amount 100
Vat 4% 4
Total 104
Less VAT as per rule tax is to be calculated on 100
service tax
100 @ 4.12% =4.12
Less Input Service Tax Credit 1
Balance tax liabilty to be paid 3.1
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- EXPORT COMMERCIAL INVOICE HSN CODE
- GST Rate for Catering Services
- ITDS U/S.194T of Firm
- TDS AND ITR ISSUE
- LIC maturity claim whether taxable
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
