service tax and VAT OR COT in contractor bills
This query is : Resolved
01 August 2010
NAMASTE,
HOW TO CHARGE SERVICE TAX AND KVAT/COT AND SERVICE TAX IN WORKS CONTRACTS.
SUPPOSE I AM A ELECTRICAL CONTRACTOR AND I AM CHARGING RS 10000/-HOW TO CHARGES VAT AND SERVICE TAX ON ABOVE THIS AMOUNT AND WHAT IS THE RATE OF SERVICE TAX AND WHAT WILL BE THE BILL VALUE.
please brief me with an example for the billing proceedure of service tax and VAT/COT in karnataka
HOW TO CHARGE SERVICE TAX AND KVAT/COT AND SERVICE TAX IN WORKS CONTRACTS.
SUPPOSE I AM A ELECTRICAL CONTRACTOR AND I AM CHARGING RS 10000/-HOW TO CHARGES VAT AND SERVICE TAX ON ABOVE THIS AMOUNT AND WHAT IS THE RATE OF SERVICE TAX AND WHAT WILL BE THE BILL VALUE.
please brief me with an example for the billing proceedure of service tax and VAT/COT in karnataka
01 August 2010
Tax need to calculate based on your scheme, if you can segregate the service portion and materials portion you can pay vat on materials and pay service tax on service portion,
if you are go for composite scheme you need to pay concession rate of ST and VAT on total contract value
if you are go for composite scheme you need to pay concession rate of ST and VAT on total contract value
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