Tax liability
This query is : Resolved
05 July 2012
I am working in a BPO call Center, one of our transporter not charging service tax with us,and his monthly bill about 8 lac we have any tax liability or we should keep it continue.
right now we are just deducting TDS and making payment.
right now we are just deducting TDS and making payment.
05 July 2012
In case of a transporter the service recipient is liable to pay service tax under reverse charge mechanism.
Accordingly the company has to deposit the service tax.
Accordingly the company has to deposit the service tax.
09 July 2012
Dear Expert
If i should dedcut from vendor A/c and deposit the service tax what is its tax %.
Pls reply
If i should dedcut from vendor A/c and deposit the service tax what is its tax %.
Pls reply
09 July 2012
Firstly, you will NOT deduct from the vendor account.
Service tax has to be paid OVER AND ABOVE the bill amount.
It is to be borne by the service recipient.
Service tax will be calculated as under:
Freight charges*25%*12.36%
Service tax has to be paid OVER AND ABOVE the bill amount.
It is to be borne by the service recipient.
Service tax will be calculated as under:
Freight charges*25%*12.36%
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