My company is engaged in providing Maintenace and Repair services.While creating bill a portion is allocated to sinking fund.My question is whether service tax will be charged on total bill amount or amount excluding sinking fund??
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Service tax on sinking fund portion in maintenance bill
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Dear Masum,
It would be chargeable on the total amount as it would be a part of your consideration, beaing gross amount charged u/s.67 of the Act, received towards provision of services.
Further allocation of such amount to a Sinking Fund does not make any difference.
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