Service tax collected forms part of gross receipts?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 November 2012
dear all,
plz clarify my doubt regarding an issue:
service provided entry made:
xyz ltd DR --sundry debtor
to hire charges --direct income
to service tax (12.36%)--current liability
now while filling ROI whether service tax collected & deposited with govt forms part of gross receipts according to sec 145A of I.T.Act?
Or only hire charges forms part of gross receipts and S.Tax will be shown as current liability in ROI?
plz urgent
plz clarify my doubt regarding an issue:
service provided entry made:
xyz ltd DR --sundry debtor
to hire charges --direct income
to service tax (12.36%)--current liability
now while filling ROI whether service tax collected & deposited with govt forms part of gross receipts according to sec 145A of I.T.Act?
Or only hire charges forms part of gross receipts and S.Tax will be shown as current liability in ROI?
plz urgent
28 November 2012
Service tax shall form part of gross receipts. Deduction shall be allowed for payment of service tax.
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2012
can you please elaborate it through an example??
and whether this will be done for VAT collected also?
and whether this will be done for VAT collected also?
05 December 2012
Service Charges Rs. 1,00,000
Add: Service Tax 12,360
Total 1,12,360
Gross receipt Rs. 1,12,360
Deduction Rs. 12,360 (subject to Section 43B)
Add: Service Tax 12,360
Total 1,12,360
Gross receipt Rs. 1,12,360
Deduction Rs. 12,360 (subject to Section 43B)
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