Works contract service
This query is : Resolved
24 October 2015
How the Gross sale amount is to be taken in Calcualtion of Service tax and VAT in Composition scheme.
We have received 20,00,000/- Including all taxes
So As per composition scheme
Gross Sales : 18,83,240
VAT @ 0.6% : 11,299 (not shown separately)
ST @ 5.6% : 1,05,461 (14% with 40% taxable)
Total : 20,00,000
Are my calculation correct or i have to consider VAR amount also for calculation serivce tax ie direct reverse calculation of Amount received
Receipt : 20,00,000
ST : 1,06,061 (Back calculation)
Gross : 18,93,939
Kindly help me which about to be consider as gross sale in Service TAX return and Gujarat VAT Return.
We have received 20,00,000/- Including all taxes
So As per composition scheme
Gross Sales : 18,83,240
VAT @ 0.6% : 11,299 (not shown separately)
ST @ 5.6% : 1,05,461 (14% with 40% taxable)
Total : 20,00,000
Are my calculation correct or i have to consider VAR amount also for calculation serivce tax ie direct reverse calculation of Amount received
Receipt : 20,00,000
ST : 1,06,061 (Back calculation)
Gross : 18,93,939
Kindly help me which about to be consider as gross sale in Service TAX return and Gujarat VAT Return.
24 October 2015
Seems the 1st method is correct.
Seems the 1st method is correct.
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