Restaurant billing
Querist : Anonymous
calculation is
Rs.1000.00 foods
Rs. 150.00 vat@15%
Rs. 49.40 service tax@4.94%
Rs.1199.40 Total Bill Amt
Is above calculation right or not..?
I have confuse on ST & VAT on same thing.
kindly solve my confusion...
as service tax is 12.36% on 100% value normally.
but here the service(eg. cooking) and goods(eg. vegetable) both are included,
but when service part can not be separated, government gives option to assume 40% as service.
hence it comes to 4.94% when tax is calculated on 40% value
eg on 1000, 40% is 400 and 12.36* on that comes to 49.40
now the service tax is calculated on correctly on service value, but as this kind of clarification is not for vat, hence at is chaged on full value of 1000. though logically it should be on 60%.
but this is INDIA.. STATE and CENTRE mein banti nahi, janta ki yahan chalti nahi..
Querist : Anonymous
1000 vat@15% = 150 (as per bill)
600 vat@15% = 90 (as per rule)
i pay 60 Rs. extra on my every bill.
i thing it's not good...
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