06.12.2010 contract Price -1000000
party paid100000 as advance in 27.11.2010
party paid400000 on 05.02.2011
please help me to calculate Service tax and vat.
***its compounding. assuming party is deducting tds on payment.
The query does not indicate whether the taxes are inclusive or not.
If not inclusive then ST under composition 4.12% under VAT applicable rate [ normally 4%].
If inclusive then owrking backwards required
BANSAL YOGESH AND CO
Gautam Budh Nagar
B.Com
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CAclubindia
