In service tax and vat is there a way to decide whether to take the tax rate as incusive or exclusive( 10.3/100 or 10.3/110)
Or is there a list of such items when exclusive or inclusive
Menu
Tax doubt
Replies (2)
If the service provider had collected the service tax,the service tax he collected will be shown in invoice and the same will be paid to the government...i.e 10.3%
if he has provided the service and he collected the consideration from his client without collecting any service tax,then service tax is included in the consideration received by him.... in this case invoice doesn't include service tax but only amt. received by him.....
the amt.received by him will be taken as 110.3% sincle service tax is included there and the service tax payable is as follows
Amt.received x 10.3
/
110.3
if service tax collected / vat is not seperately shown in invoice then it is inclusive otherwise exclusive of tax
Recent Topics :
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
Related Topics :
CAclubindia
