Pradip Narsingani (Income Tax & GST Consultant/ CA-Final) (572 Points)
03 May 2010hello friends./././
1 Mr X a company secretary provides taxable professional services to one of its clients. in lieu of rendering such services, Mr, charges Rs. 10,000 in lumpsum from its client and also asks its client to give him a law book worth Rs. 2,360.
what will be service tax payable./././ How???
praveen
(Chartered Accountant)
(6971 Points)
Replied 03 May 2010
CA Lalit Mohan Joshi
(CA )
(235 Points)
Replied 03 May 2010
yes, service tax shall be calculated on gross amount .i.e. Rs.12360.
sunny lalwani
(CA Final student)
(49 Points)
Replied 03 May 2010
Mr.X has to pay service tax @ 10.3% on Gross amount of Rs.12360/-.
ca tarun sharma
(SERVICE)
(277 Points)
Replied 03 May 2010
service tax payable is rs 12360/110.3*10.3 i.e. Rs 1154
Ronak Choudhary
(CA Final Article)
(130 Points)
Replied 04 May 2010
this question is of the time when the service tax was levied at 12%..
SO...consideration received is divided into - gross amount = 10,000 (+) service tax = 2360
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