suppose, i got the service tax no. on 1.11.2010, is there any need to charge service tax on bills before 1.11.2010
please suggest!!!!
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 28 December 2010
Arvind Modi
(Partner)
(39 Points)
Replied 28 December 2010
I presume that Service Tax Registration was applied for on crossing the threshold limit of Rs. 9 lakh for registration and the application was made within 1 month of crossing the limit. If my prsemuptions are correct then service tax will be charged from the time billing exceeds rs.10 lakhs or receipt of rs10 lakh in the financial year
Chinmay
(Accounts Professional)
(356 Points)
Replied 28 December 2010
If you are charging service tax necessary to registered....
If you don't have the ST 2 (Certificate of Registration) that means you are not registered.
CA Nikhilesh Singla
(CA)
(83 Points)
Replied 29 December 2010
Yes u have 2 charge service tax in bills.....
Tejun
(Student)
(295 Points)
Replied 29 December 2010
Sumiti Jain
(FP)
(1364 Points)
Replied 29 December 2010
Service tax will be charged from the time billing exceeds Rs.10 lakhs or receipt of rs10 lakh in the financial year
Prinkle
(Working in a Liquor company)
(38 Points)
Replied 29 December 2010
Why service tax would be charged from the time billing exceeds Rs.10 lakhs or receipt of Rs. 10 lakhs in the financial year? Why not on exceeds Rs.9.00 Lakhs?
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 29 December 2010
| Originally posted by : Prinkle | ||
 |
Why service tax would be charged from the time billing exceeds Rs.10 lakhs or receipt of Rs. 10 lakhs in the financial year? Why not on exceeds Rs.9.00 Lakhs? |
 |
only registration is mandatory on 9 lacs, for ease of trade to absorb the time taken in process of new registration , tax is payable only when the service charges cross 10 lacs.
niki_1079
(CA Practice )
(279 Points)
Replied 29 December 2010
Hi
Can anyone give me format for calculation of Service Tax
Thanx in advance...
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 29 December 2010
taxable service ................10000
service tax 10% 1000
Edu Cess... 2%.....20
S&HS EC.....1%.....10
................................................1030
-------------------------------------------
Invoice total ......................11030
CA Nikhilesh Singla
(CA)
(83 Points)
Replied 29 December 2010
Calculatoion of Service Tax :-
a) if service tax is not inclusive in the amt of bill then service tax is calculated by this formula :-
Amt of bill * rate of service tax (10%)
+ Educational cess = 3% of service tax
Its simply calculated by :- amt of bill * 10.3%
b) if service tax is inclusive in the amt of bill then service tax is calculated by this formula :-
Gross amt charged * 10.3%/110.3%
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