Kindly somebody clear this query:
I issued invoices for AMC, and charging taxes as 70% of net value for dvat @ 12.5% & 30% of net value for service 12.36% tax.
I am in little doubt that is this method of taxation is right or not.
Kindly somebody clear this query:
I issued invoices for AMC, and charging taxes as 70% of net value for dvat @ 12.5% & 30% of net value for service 12.36% tax.
I am in little doubt that is this method of taxation is right or not.
it is right dear.. for AMC contracts usually i had seen bills like that in my company...
This is a composite method of charging Tax for AMC when the Material and labour portion cannot be segregated
IN THIS CASES SERVICE RECEIVER IS DEDUCT TDS & WCT.
Rahul Dang & Associates-Chartered Accountants
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CAclubindia
