Invoice for works contract
This query is : Resolved
04 February 2016
I HAVE WORKS CONTRACT OF RS.100000/- WITH 40% TAXABLE AND 60% ABETMENT IN SERVICE TAX. ALSO PAID VAT LUMPSUM AT 0.6% RATE, PLEASE PROVIDE CALCULATION OF VAT AND SERVICE TAX OR PREPARE MY INVOICE WITH THIS AMOUNT AND DETAIL I HAVE TO PRODUCE TO MY CLIENT.
06 February 2016
First of all you have not cleared whether reverse charge is applicable or not in your case.
Kindly confirm so that advise can be given accordingly. If reverse charge is there then In
invoice, the service provider must charge service tax only to the extent for which
he is liable for service tax. For part of service tax which is payable by service
receiver under reverse charge mechanism, a note may be inserted in the invoice
indicating that “balance ........% of service tax would be payable by service receiver
directly to the government”. Further, the service provider may show total amount
of service tax on such service but will charge only ........% of total service tax and
may indicate the above description.
Kindly confirm so that advise can be given accordingly. If reverse charge is there then In
invoice, the service provider must charge service tax only to the extent for which
he is liable for service tax. For part of service tax which is payable by service
receiver under reverse charge mechanism, a note may be inserted in the invoice
indicating that “balance ........% of service tax would be payable by service receiver
directly to the government”. Further, the service provider may show total amount
of service tax on such service but will charge only ........% of total service tax and
may indicate the above description.
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
- CAPITAL GAIN REDEVELOPED FLAT
- CLOSING STOCK QUERY
- Multiple payment of self assessment tax for A Y 2025-2026
- REGARDING ITR FILING QUESTION
- Requirement under FEMA &RBI
- ITC BENEFIT ON BROKRAGE PAID
- Short Term Gain Reporting ITR
- Query regarding reporting of exempt foreign remuneration in ITR
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Error in uploading Form 10BD
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
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
