Service tax applicaility

Queries 454 views 3 replies

Hi All CA Experts,

This is my first theard to this forum. Would like to know about Service Tax. I have some queries related to service tax. I would be glad if any experts resolve them.

 1 ) When service tax is applicable  ?

2 ) Which industries are considered for service taxes and what kind of services ?

3 ) What is amount limit from where we start calculating service tax ?

4 ) Can TDS and Service Tax are calculated on same vendor ? Is this can be the case in real time business ? If so can anybody would be able to give me example with amount amount taken as Rs. 100.00.

If both are applicable then which tax can be calculated first ?

5 ) Can anybody tell me basic accounting entry for service tax ?

I would be happy if I get experts guidance over this. 

Thank you in advance !

Regards,

Pankaj A Bhalerao.

 

 

 

 

 

 

 

 

 

 

 

Replies (3)
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It was provided by CMA Sanjay Gupta in some thread u can also check that

1.Service tax levied on service which is included in the list of taxable services.

2. there are approx 117 taxble services.check  aces website for update.

3. If gross turnover goes Above 10 lac  you  are entitled for  service tax.

4. Deduct TDS. on gross Amount on the bill you booked.

5. 10.3% Service tax is applicable on gross amount charged by service provider

 

      

                                      

 

 


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