Hi, Good Evening everybody,
Please someboby help me regarding calculation of input and output service tax under point of taxaion regime.
Case Study:
XYZ Pvt Ltd provides taxable service. Service tax rate is 12.36%.
Details of bill issued:
1-4-2013- issue bill to Mr A for amounting Rs.112360 with service tax (payment received on the month of April).
2-4-2013- issue bill to Mr B for amounting Rs.56180 with service tax (payment received on the month of May).
3-4-2013- issue bill to Mr C for amounting Rs.73034 with service tax (payment received after 6 month).
3-4-2013- receive advance from Mr D Rs. 35000 for service to be provided.
Details of bill received:
2-4-2013- receive bill from Mr P for Rs. 67416 inclusive of service tax (payment made on the month of April).
3-4-2013- receive bill from Mr Q for Rs. 61798 inclusive of service tax (payment made on the month of May).
4-4-2013- receive bill from Mr R for Rs. 44944 inclusive of service tax (payment made after 6 month).
5-4-2013- payment of advance to Mr S Rs.25000 for services.
ALL Bills issued and received with 30 days from the date of completion of taxable service or receipt of any payment towards service.
CAclubindia
