Somebody pay an amount of 6000 towards course fees including service tax of 10.3%. To Segregate this 6000 to fees and tax amount we divide 6000/1.103
My question is how do we get this 1.103????
Please help me
thanks in advance
Regards,
Biju
Somebody pay an amount of 6000 towards course fees including service tax of 10.3%. To Segregate this 6000 to fees and tax amount we divide 6000/1.103
My question is how do we get this 1.103????
Please help me
thanks in advance
Regards,
Biju
Please help meeeee
6000/(100+10.3)%
= 6000/110.3%
= 6000/1.103
Thanks Punit
Dear biju if you divide 110.3 by 100 (i.e. 110.3%) you'll get 1.103.
Thanks Trinath
Thanks Prabeer
10% is service tax rate + 2% edu cess and 1% higher edu cess on dis 10% (say total 3%)=10.3% total tax
then suppose Rs. 100 is da value of service rendered then, there would be Rs.10.3 service tax so the total amout to be charged including service tax will be 110.3
Now we have paid 6000 as total amount so it is equivalent to 110.3 so v divide 6000 by 110.3 and now if we multiply it by 10.3 we get the tax and if we multiply it by 100 v get da amout of service rendered excluding tax
(6000/110.3*10.3=service tax ) (6000/110.3*100=value of service rendered excluding tax)
i hope it helped u
:-) nicely explained by all.
good explaination by ridhi.
Formula: (1+ r/100) ( r means rate of tax)
= 6000 / (1+10.30/100)
= 6000/ (1+ 0.103)
= 6000 / (1.103)
= 5440 ( 6000-5440 = 560)
Reverse Manner
= 5440*10.30% = 560
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