Percent calculation of service tax

This query is : Resolved

santosh sharma (Querist)
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11 June 2012 Dear Friends,

We have tie up with Blue Dart courier to carry out our daily courier requirements.
At the end of month we receive the invoice from them. This month also we have received an invoice.Details for which is given below.
Gross Total= 15518.50
Fuel Surcharge= 11538.75
TOTAL= 27057.25
Service Tax @12% on rs 27057.25= 3246.90
Edu. cess @2% on Rs. 3246.90= 64.94
Sec.& High cess @ 1% on 3246.90= 32.47
Grand Total= 30402

Now the question is total service tax percent comes around 12.36%, How did the 0.36% come from behind 12%
Could anyone prove this 0.36% theory.

Regards
Santosh Sharma

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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11 June 2012 Cess of 3% on 12% comes to 0.36

So 12+0.36 comes to 12.36%.

B Ravi Kumar ACMA, MBA, M Com

B Ravi Kumar ACMA, MBA, M Com (Expert)
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11 June 2012 3% on 12% Service Tax is the Education Cess.

santosh sharma

santosh sharma (Querist)
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11 June 2012 thank you sir's.

regards
santosh sharma

C.A Anshul Singhal

C.A Anshul Singhal (Expert)
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11 June 2012 3 % Cess on service Tax Rate
Service Tax Rate= 12%
3% cess on Service tax= 12*3%=0.36%
Total Service Tax = 12.36%

santosh sharma

santosh sharma (Querist)
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11 June 2012 thank you anshul sir, bhardwaj sir, ravi sir

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