Rcm
This query is : Resolved
04 November 2014
We are depositing service tax against jobwork bill under RCM
Bill amount 152645.00
Less: 25% 38161.00 ……as abatement
Taxable 114484.00
Deposit of Tax@ 12.36% = 14150.00
We have deposited Rs. 14150.00 to Govt A/c
My question is when making payment to party what amount to deduct from payment of the bill to service provider ?
Bill amount Rs. 152645.00
Less service tax Rs. - 14150.00??
Less Tds -1526.00 being 1% on individual contractor
Please guide about service tax to deduct or NOT ??
Bill amount 152645.00
Less: 25% 38161.00 ……as abatement
Taxable 114484.00
Deposit of Tax@ 12.36% = 14150.00
We have deposited Rs. 14150.00 to Govt A/c
My question is when making payment to party what amount to deduct from payment of the bill to service provider ?
Bill amount Rs. 152645.00
Less service tax Rs. - 14150.00??
Less Tds -1526.00 being 1% on individual contractor
Please guide about service tax to deduct or NOT ??
04 November 2014
No service tax to be deducted it is your liability you can claim it as input tax while paying out put service tax. Only TDS to be deducted from the bill.
Message likes :
1 times
04 November 2014
same will be applicable on GTA ?
in GTA 75% abatement is taking and depositing 25% so please confirm
in GTA 75% abatement is taking and depositing 25% so please confirm
04 November 2014
Same will be applicable on GTA.
Message likes :
1 times
04 November 2014
basically it depends upon the CONTRACT between the parties. Merely because the DUTY of paying 75% service tax has been cast on to the heads of your company, does not change the CONTRACT between the contractor and contractee.
Message likes :
1 times
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
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- Rental income gst and it purpose
- Management System (IMS)
- Condonation . E-Verification of last year return .
- Eway bill generation from place other than registeted
- FTS Taxable under 115A
- EPF FULL & FINAL RULES IN 2026
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
