Service tax reverse mechanise calculation
This query is : Resolved
09 May 2013
Sir,
I want to know how service tax to be reversely calculated on following example, sales invoice service tax rate is 12.36%.
Total of Service Tax-Rs.94578-00
Accting code-00440072 - Rs.91824-00
Accting code-00440298 - Rs. 1836-00
Accting code-00440426 - Rs. 918-00
Please explain me above calculation, if there is any formula.
Thanks,
Pravin.
I want to know how service tax to be reversely calculated on following example, sales invoice service tax rate is 12.36%.
Total of Service Tax-Rs.94578-00
Accting code-00440072 - Rs.91824-00
Accting code-00440298 - Rs. 1836-00
Accting code-00440426 - Rs. 918-00
Please explain me above calculation, if there is any formula.
Thanks,
Pravin.
09 May 2013
For ST 94578*12/12.36 = 91823.3 (A)
For Education cess 2% on (A)
For Seconderay & Higher Education Cess 1% on (A)
For Education cess 2% on (A)
For Seconderay & Higher Education Cess 1% on (A)
Message likes :
1 times
10 May 2013
Sir,
I want service tax reverse calculation of Rs.273904-00 on sales - following example:-
Accting Code : 00440410-Rs.265926
Accting Code : 00440298-Rs. 5319
Accting Code : 00440426-Rs. 2659
The above amount calculated on two separate service tax rate i.e.Rs.67501-00 on 3.71% and Rs.206403-00 on 7.42%.
Please explain me above calculation with any formula.
Thanks,
Pravin.
I want service tax reverse calculation of Rs.273904-00 on sales - following example:-
Accting Code : 00440410-Rs.265926
Accting Code : 00440298-Rs. 5319
Accting Code : 00440426-Rs. 2659
The above amount calculated on two separate service tax rate i.e.Rs.67501-00 on 3.71% and Rs.206403-00 on 7.42%.
Please explain me above calculation with any formula.
Thanks,
Pravin.
10 May 2013
(I) Actually its not 3.71% it is 3.708% (12.36*30%)
Now 67501 * 3/3.708 = 54612 (A)
EC 2% on (A) = 1092
SHE 1% on (A) = 546
(II)
Its also not 7.42% it is 7.416% (12.36*60%)
ST 12%*60% = 7.2%
Now 206403 * 7.2/7.416 = 200391 (B)
EC 2% on (B) = 4008
SHE 1% on (B) = 2004
(I) Actually its not 3.71% it is 3.708% (12.36*30%)
Now 67501 * 3/3.708 = 54612 (A)
EC 2% on (A) = 1092
SHE 1% on (A) = 546
(II)
Its also not 7.42% it is 7.416% (12.36*60%)
ST 12%*60% = 7.2%
Now 206403 * 7.2/7.416 = 200391 (B)
EC 2% on (B) = 4008
SHE 1% on (B) = 2004
10 May 2013
Sir,
I have received the reply of above query about reverse calculation of service tax and thanks for the same, but I think their is mistake in Part(I)Reverse calculation to be required Rs.67501=00 but if you calculate it comes Rs.56250-00 (i.e.54612+1092+546).The calculation part (II)is correct.
Thanks,
Pravin.
I have received the reply of above query about reverse calculation of service tax and thanks for the same, but I think their is mistake in Part(I)Reverse calculation to be required Rs.67501=00 but if you calculate it comes Rs.56250-00 (i.e.54612+1092+546).The calculation part (II)is correct.
Thanks,
Pravin.
10 May 2013
Yes your correct,
In part - I take 3.6% (ie 12%*30%) instead of 3%
Now
67501*3.6/3.708 = 65535/- (A)
EC @ 2% on (A) = 1310
SHE @ 1% on (A)= 656
In part - I take 3.6% (ie 12%*30%) instead of 3%
Now
67501*3.6/3.708 = 65535/- (A)
EC @ 2% on (A) = 1310
SHE @ 1% on (A)= 656
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Booth for sales promotion
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
