This is urgent. Our Company has import some services from China worth $10,000. This service is liable to both Service Tax and Withhlding Tax @ 10%. But I am not able to understand how do I calculate the amount to be charged towards Service Tax and Withholding Tax.
29 August 2011
Service Tax will be Applicable on value of r $ 10,000 @ 10.3% which will be of $ 1,030/- while withholding tax will be charged on total value of $11,030/- ( 10000+1030) @ 10% u/s 194J except in case of Technical fees so it will amount to $ 1,103/-
CAclubindia
