In a case where both service tax and MVAT is applicable, which is to be charged first.., MVAT and then service Tax or vice versa...???
Also is service tax to be charged in VAT amount too ??
Kindly guide me...
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VAT WOULD BE CHARGED ON MATERIALS & SERVICE TAX WILL BE CHARGED ON LABOUR WORK. NO SRVICE TAX TO BE CHARGED ON VAT AMOUNT
| Originally posted by :Kamal | ||
| " | In a case where both service tax and MVAT is applicable, which is to be charged first.., MVAT and then service Tax or vice versa...??? Also is service tax to be charged in VAT amount too ?? Kindly guide me... |
" |
Dear Mr.Kaml,
Incase VAT and Service Tax are applicable, then VAT should be calculated on Basic value + Service Tax.
For example,
| Basic Value | 10000 | |
| Service Tax | 10% | 1000 |
| Edu cess | 2% | 20 |
| Sec Edu cess | 1% | 10 |
| Sub Total | 11030 | |
| VAT | 4% | 441.2 |
With regards,
Subramanya
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