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
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Share accounting-->fifo - capital gain - period as per fifo?
- Reporting Income under Section 44ADA
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
