Partial reverse charge
This query is : Resolved
09 September 2014
There is a question in my Indirect Tax book on Partial Reverse Charge. Service provider has to pay 25% & Service receiver to pay 75%. The question reads that service provider received 25lacs. For calculating Service tax they reverse calculate to value of service to 22.25lacs. ie (25*100/112.36) but if 25lac was amount received the calculation for value of service should be 25*100/103.09 as service provider has to pay only 25% of ST. Is my working & understanding correct for this question?
09 September 2014
Yes your working is correct. It wil be
25/103.09*100=24.25.
25/103.09*100=24.25.
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