we are a builder, we have planing to construct one building to Bank, we sell it on square feet Rs 3000 (including land) over and above this amount we are collecting 10% on this amount towards service tax, sales tax & govt charges etc.. incase if 10% collected amount is excess it will be refunded otherwise it will collect from thier
my question is
what is the turnover for service tax & sales tax (including 10% or not)
For the purposes of Service Tax, gross amount charged will be considered for turnover. In case, service tax isn't collected separately, the gross amount charged will be taken as inclusive of service tax.
Varma Raja & Associates
Thrissur
CA Inter
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Abic and Mani Chartered Accountants
Kottayam
B.Com
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Shyam S Gupta and Company
New Delhi
CA Inter
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CCI
Pro
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