03 February 2015
Dear all. i had given construction construction contract.with materials. but now the contract or has given me bill. details are mention below.
contract amount was. 300000 Vat 5% 15000 Service tax 12.36% 14832
Total bill amount 329832
My exact query is. they have charged 5% on total amount of contract which is 300000*5% 15000. and 12.36% service tax on 120000/- is this correct calculation. by contractor.
and now we would have to deduct the TDS also. should i deduct tds only contract amount 300000 or with include tds amount which is 315000/- also let me know the section to deduct tds.
CAclubindia
