hi,friends i have some doubt regarding service tax. let me tell you that in service tax in some cases it was given that 10.3/110.3 and in some cases it was that 100/110.3 and in some cases it was 10.3/100 please if anybody knows about it, please share this information with me and i will be thankful to them
Dear Krishna,
1) 10.30/110.30 formula used to find out only service tax amount part from the total gross value of the service bill
2) 100/110/30 formula used to find out only taxable service amount from the total gross value of the service bill
3)10.30/100 formula used to find out only service tax amount part from the taxable service amount
Case I: Bill separately shows service tax
Service amount--- 10,000
Add: service tax @ 10.3%---1,030
Total 11,030
In dis case, we hav charged @ (10.3/100)
Case II: Bill doesnt show separately
Service amount(inclusive of service tax)---11,030
In dis case, we make reverse calculation
Service tax amount---(11,030*10.3/110.3)=1,030
Service amount---(11,030*100/110.3)==10,000
| Originally posted by : CA Sumit Grover | ||
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Case I: Bill separately shows service tax Service amount--- 10,000 Add: service tax @ 10.3%---1,030 Total 11,030 In dis case, we hav charged @ (10.3/100) Case II: Bill doesnt show separately Service amount(inclusive of service tax)---11,030 In dis case, we make reverse calculation Service tax amount---(11,030*10.3/110.3)=1,030 Service amount---(11,030*100/110.3)==10,000 |
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AGREE..................
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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