How to calculate service tax when we recd. lesser amount
This query is : Resolved
Guest
Guest
(Querist)
13 November 2009
Sir/Madam
I want to know that if i have service tax registration no. & raised a bill for say Rs 100 & chg ser tax @ 10.3 % on it total comes to 110.30 to one of my client
Now my client pay to me 100/- only
whats my service tax liability
if u have any reference of any circular so please provide me
its urgent
so please reply as early as possible
I want to know that if i have service tax registration no. & raised a bill for say Rs 100 & chg ser tax @ 10.3 % on it total comes to 110.30 to one of my client
Now my client pay to me 100/- only
whats my service tax liability
if u have any reference of any circular so please provide me
its urgent
so please reply as early as possible
CA. B.SRINIVASULU
(Expert)
13 November 2009
Now you should assume 100 is inclusive of tax.
Ie tax = (100*10.3/110.3)= 9.30
Your receipt is = 90.70
You have to rasie a debit note
for service = 9.70
Tax 1.00
Ie tax = (100*10.3/110.3)= 9.30
Your receipt is = 90.70
You have to rasie a debit note
for service = 9.70
Tax 1.00
29 March 2012
if i have raised a bill for Rs.1000000 for construction service which is inclusive of all taxes.whether under mentioned calculation is correct? 1000000*33%=330000. 330000*10.3/110.3=Service tax payable inclusive of Education and higher education cess =30816.. Please reply
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