vat on service tax
This query is : Resolved
08 January 2010
We are reseller of IT components and now their software licences, we have purchase a cyberroam software licenses from a vendor in Delhi and they charged the vat on total value includind service tax like : basic value is Rs. 100/- + service tax 10.3% = Rs. 110.30 +vat @4% = Rs. 114.71 (total invoice value). Is it right? If yes then anybody can give us the notification no.? Ans also want to know the accounting treatment for vat as well as service tax as per the both return.
11 January 2010
In this transaction as per me no servic etax shouldbe charged. However the matter is being disputed by the ST authorities. Large s/w provider have started this way to avoid demands in future.
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