Valuation of Taxable Service
This query is : Resolved
10 October 2010
What will be the value of Taxable Service:-
1. Mr. X, a Professional provides service to a Company. He incurrs Rs. 10,000.00 towards Travelling Expenses, which has been paid by the Company.
Mr. X raises a Bill of Rs. 50,000.00 for his professional services.
On what amount should Mr. X charge Service Tax?
1. Mr. X, a Professional provides service to a Company. He incurrs Rs. 10,000.00 towards Travelling Expenses, which has been paid by the Company.
Mr. X raises a Bill of Rs. 50,000.00 for his professional services.
On what amount should Mr. X charge Service Tax?
10 October 2010
Pl refer rule 5(1) of the Service tax (Determination of Value) Rules,2006. Accordingly ST is to be levied on Rs.60,000.00.
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