ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Service tax & wct

arvinder kaur (Practising CA) (67 Points)

04 November 2015  

Hello everyone...i have a query in service tax..
I have a bill for " Supply & Installation of CCTV Cameras ".In which the goods i.e. Cameras,Cables etc are included after adding VAT and then there is installation charges also included in the bill.Now the service tax is charged @ 9.54% & WCT @ 5.25% of Total amount of the Bill.I am confused about the assessable value and rate of service tax ,won't the rate shoud be 9.8% (14*70%)?Is there any abatement?and the service tax be chargeable on total value of goods(incl. VAT) plus service charges?

won't there be any problem while uploading service tax return?Please advice?

What should I do if assessee has made the bills in same way? Please suggest?

 


 1 Replies

ANUP GUPTA (KEEP SMILING fcaanupgupta@gmail.com)   (303 Points)
Replied 05 November 2015

Yes Service tax should be 9.8%.

Service tax is chargeable on Gross value excluding VAT

Ask your Client to correct the same or do the reverse calculation

Till sept. file the return ( based on reverse calculation)

 

and oct. onward revised the bill and charge 9.8%.

 

If your client is individual and provided services to the company then he will get the 50% exemption under reverse charge 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  





Subscribe to the latest topics :
Search Forum:

Trending Tags