I am receing Rs 60,000/- per month lump sum as constuancy. What will be my ST liability i.e. 60,000*12.36% =7416 or 53,400*12.36%=6600 (i.e reverse calculation).
J T Mahavar (Consultant) (97 Points)
23 June 2014I am receing Rs 60,000/- per month lump sum as constuancy. What will be my ST liability i.e. 60,000*12.36% =7416 or 53,400*12.36%=6600 (i.e reverse calculation).
Karthik Bhaktha
(CA-Student)
(126 Points)
Replied 23 June 2014
Sir,
As you didnt collect ST seperatly than it will be assumed that payment recieved will include ST. you can you 2nd calculation to calculate ST.
60000/112.36*12.36=6600
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