Dear All,
We have received a work order for Rs.100 crs which is inclusive of 4% WCT (Sales Tax) and 4.12% Service tax. As per work order, we have received 25% as Mobilization advance. How to reverse calculate the assessable value for service tax and WCT (Sales. Pls give example.
Thanks
100*4.12/104.12 = 3.96 service tax now minus it with amount of RS.100Cr. and you will get value of order.
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