HOW SERVICE TAX IS CALCULTED ON CONSOLIDATED RECEIPTS????
SERVICE TAX ON CONSOLIDATED RECEIPTS??????????
CA Sudhir Halakhandi (PRACTICING CHARTERED ACCOUNTANT) (13401 Points)
11 January 2009
3 Replies
OFFICESELVA
(Service)
(515 Points)
Replied 11 January 2009
The amount should be treated as CUM-TAX and taxable value should be arrived. The taxable value and tax amount should be equal to the amount received.
Pratik K
(Student)
(3406 Points)
Replied 13 January 2009
can anyone explain in depth it as I am still confused abt the same.
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 14 January 2009
The ampunt received is cum tax amount.
Say you received 100 Rs. It includes 12.36% service tax. The value of service is "V".
Therefore,
V plus 12.36% of V is equal to 100. Solve for V.
100-V is the service tax payable.
Recent Topics
- Interest earned on deposits placed with corporates
- Pension Misclassification and Correction in ITR
- Failed to File SPL-02 before June 30th
- AIS Utility
- Fees receipts for Technical services ..income
- INTEREST WILL PAID
- GSTR-2A Shows 3B not filed but actually files
- Private Limited Company Strike Off (No Business in
- GST on forfeiture of Security Deposit
- Form16 shows investments as done - But I will go b
Related Threads
Trending Online Classes
CAclubindia
