Service Tax Liability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 September 2010
Hi
Respected Members
Suppose If i a m service provider and i raised the bill of Rs. 50000/- and my debtors give me 20000 out of which 2000 TDS deducted and 1000 deducted as Security Deposit.
Then at what amount service tax should be paid whether on 20000 or net payment received i.e 20000-2000-1000 = 17000/-.
Thanks
Respected Members
Suppose If i a m service provider and i raised the bill of Rs. 50000/- and my debtors give me 20000 out of which 2000 TDS deducted and 1000 deducted as Security Deposit.
Then at what amount service tax should be paid whether on 20000 or net payment received i.e 20000-2000-1000 = 17000/-.
Thanks
16 September 2010
duplication.
https://www.caclubindia.com/experts/service-tax-485750.asp
service tax to be paid on Rs.20000/-
https://www.caclubindia.com/experts/service-tax-485750.asp
service tax to be paid on Rs.20000/-
17 September 2010
Irrespective of any deductions, service tax is payable on gross amount charged to the service recepient.
The exceptions are refundable deposit for which a clause is necessary in the agreement/arrangement, else taxable
TDS even if deducted will form a part of taxable services except in case of renting of immovable property.
Therefore service tax to be paid on Rs.19000/-
The exceptions are refundable deposit for which a clause is necessary in the agreement/arrangement, else taxable
TDS even if deducted will form a part of taxable services except in case of renting of immovable property.
Therefore service tax to be paid on Rs.19000/-
17 September 2010
ST is payable on the receipt of money. So ST payable on Rs. 19000/-. Since TDS is nothing but deferred income it has to be grossed up though not received.
17 September 2010
Rs. 1000 is kept as security deposit , not deducted by party. If he pay full amount, then you have to pay Rs.1000 to him security deposit,
HEnce you are receiving Rs. 20000 against your bill. Hence Service tax to be paid on Rs. 20000/-
HEnce you are receiving Rs. 20000 against your bill. Hence Service tax to be paid on Rs. 20000/-
17 September 2010
The view of Mr Dayal seems to be correct.
18 September 2010
Whether S. Tax levied by provider on the security deposits.
S. tax would be paid on Rs. 19,000/- (the amount received)
Regards
P
S. tax would be paid on Rs. 19,000/- (the amount received)
Regards
P
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