Is negative list imply loss to states ?
This query is : Resolved
CA Sahil Singla..
(Querist)
04 November 2012
Sir
As per recent Notifcation , Hotels and clus are requred to charge service tax on 40% of their Invoice value. So, does this imply loss to states ?bcoz now they will be charging service Tax instead of VAT ?
As per recent Notifcation , Hotels and clus are requred to charge service tax on 40% of their Invoice value. So, does this imply loss to states ?bcoz now they will be charging service Tax instead of VAT ?
Amol S Joglekar
(Expert)
04 November 2012
service tax and VAT can be charged SIMULTANEOUSLY... they are not mutually exclusive... it is in addition to existing.
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