taxable value of service tax
This query is : Resolved
19 June 2009
we are paying the service tax on freight
on which amount we have to paid the tax
suppose bill amount is Rs.1000
tax amount= 1000*2.575
or
=(1000/102.575)*2.575
pls advise
on which amount we have to paid the tax
suppose bill amount is Rs.1000
tax amount= 1000*2.575
or
=(1000/102.575)*2.575
pls advise
CA.SHAHZAD SAYYED
(Expert)
19 June 2009
Dear Ramkumar
The amount received by u against Bill raised shall be treated as GROSS Amount i-e including Service Tax, whether u actually recovered the Service tax from customer or not is immaterial, so the second calculation is appropriate i-e
1000/102.575*2.575
The amount received by u against Bill raised shall be treated as GROSS Amount i-e including Service Tax, whether u actually recovered the Service tax from customer or not is immaterial, so the second calculation is appropriate i-e
1000/102.575*2.575
CMA Ankur Pandey
(Expert)
19 June 2009
1000/102.575*2.575
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