Service tax
Akash (None) (59 Points)
29 April 2015
Please tell me whether service tax will be charged on gross amount or the amount after deduction of tds
Akash
(None)
(59 Points)
Replied 29 April 2015
Shikha Agarwal
(Senior Associate)
(22 Points)
Replied 29 April 2015
Shikha Agarwal
(Senior Associate)
(22 Points)
Replied 29 April 2015
Soham
(Learning )
(534 Points)
Replied 29 April 2015
It has been clarified by CBDT vide Circular No. 1/2014 dated 13th Jan 2014 wherein they have clarified that TDS on Rent is to be deducted on the amount paid exclusive of Service Tax.
Therefore in the above scenario, the Tax on Rent would only be on the Actual Rent paid and the computation has been shown below
|
Rent |
20,00,000 |
|
|
(Add) |
Sevice Tax @ 12.36% |
2,47,200 |
|
(Less) |
TDS on Rent @ 10% on amount excluding Service Tax |
(2,00,000) |
CA AnKiT BoHrA (AB)
(Manager)
(25955 Points)
Replied 29 April 2015
B Sure, Dont deduct TDS on service tax amount.. Deduct TDS only on amount exclusive of ST
nitika
(manager)
(25 Points)
Replied 29 April 2015
should service tax be levied @ 12.36% in april 2015 on various taxable services or @ 14%+2%?
CA AnKiT BoHrA (AB)
(Manager)
(25955 Points)
Replied 29 April 2015
it is only 12.36 % as of now... and new rate wil b notified in around mid may.til than use old rate
Soham
(Learning )
(534 Points)
Replied 29 April 2015
Sonakshi Mangla
(Employee)
(310 Points)
Replied 29 April 2015
nitika service tax has to be charged @ 12.36%
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