Urgent plz reply
This query is : Resolved
29 August 2014
There is a party A who provides motor vehicle on rent,with whom a party named B had contracted for the supply of motor vehicle. In this contract, a clause is mentioned as "the prices will be inclusive of all charges including taxes" party a raises a bill of amount Rs.2109 to party b party a is availing abatement so party b will caculate service tax as 2109*40%*12.36%=104.269
now my question is which option is correct for payment to party A-
option 1
paid to Party A 2109-104.269=2004.731 and
party B deposit Rs. 104.269 as st to gov.
option 2
paid to party A 2109 and
party B deposit Rs. 104.269 as st to gov.from his own
now my question is which option is correct for payment to party A-
option 1
paid to Party A 2109-104.269=2004.731 and
party B deposit Rs. 104.269 as st to gov.
option 2
paid to party A 2109 and
party B deposit Rs. 104.269 as st to gov.from his own
01 September 2014
As per my view first party B should confirm from party A that whether the amount of 2109 includes the 40% service tax or not.If its not included then option B is applicable.
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