For an net amount of Rs.750 after imposing the service tax of 14.9% and VAT of 5.5% how much would be the net amount.How much service tax can generally be imposed in restaurants.Kindly clarify me the same.
Menu
Regarding service tax and vat
Replies (2)
As per rule 2c of STVR 2006 ,value of service will be 40% of Gross amt charged from customers and service tax shall be 14%(wef 1.07.2015)
as per Exemption notification 25/2012 service of restaurent will be exempt if it does not have air conditioned facility
Net amount of Rs.750/- plus 14% on 40% i.e Rs. 750+42=792 + VAT @ 5% i.e.43.60 Gross amount wuld be 835.60
Raksh*t
Advocate
Service Tax
Recent Topics :
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
Related Topics :
CAclubindia
