Please tell how to calculate the service tax paid gta mean which tranpoter not charge the service tax on bill we deposit the 25% service tax agst the bill value
Amit kumar (SERVICE ) (49 Points)
30 August 2014Please tell how to calculate the service tax paid gta mean which tranpoter not charge the service tax on bill we deposit the 25% service tax agst the bill value
Harendra Kumar
(Tax Advisor )
(1326 Points)
Replied 30 August 2014
Sir,
Plz find the calculation i.e. 100 Value of Bill then service tax calculated as follow:
100 of 25% = 25
25 of 12.36% = 3.09.00
And service tax calculated Rs. 3.09 if you not got plz forward the same.
Thanking you,
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 30 August 2014
Agreed with Mr harendra Kumar, Service tax liability will be 100*12.36*75%=3.09%
CA Sanket Gujar
(Professional)
(74 Points)
Replied 31 August 2014
Under service tax reverse charge mechanism, when u take a GTA service from Ind/Huf you have to pay service tax even if the trasporter has not levied it.
Calculate service tax on 25% i.e 3.09% of total cost.
SUDARSANA SARMA M
(STUDENT)
(22 Points)
Replied 01 September 2014
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
