I have raised invoice amounting to Rs 112360 which includes service tax of Rs 12360/-. and received Rs 1,12,360.00. Whether my turnover will be Rs 1,00,000.00 or Rs 1,12,360.00.
Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) 14 January 2014
For service tax purpose it is 100,000/-. For income tax purpose or accounts it could be 100,000 or 112,360 depending if you pass the charge to output service tax through PL account or not.
CA SHRAVANA DOTA (ACA) 14 January 2014
Taxable Value/Turnover under Serivce Tax in your instance will be Rs. 1,00,000/-
ARJUN ASHOK (CA Industrial Trainee) 14 January 2014
your turnover must be Rs.100,000/-. Rs.12,360/- is your current liability towards service tax collection. later it must paid to govt. after setting off the same against your input credit.
Bhavesh R Mesavaniya (Co-Founder) 14 January 2014
Neha Jain (accountant) 15 January 2014
Manoj Agarwal (Service Tax Consultant Rourkela ServiceTaxExpert@yahoo.com) 15 January 2014
Kinldy complete your query by mentioning the purpose for which you need to know the turnover.