hi guys i am from pune recently wen i inquired for a banquet hall i was given the details as follows
BANQUET FOOD
VAT-12.50%
S.T-6.38%
TOTAL-18.68%
IS THIS THE CORRECT WAY???
CAN SOME1 PLS TELL ME WHAT IS THE CORRECT METHOD IF THIS IS NOT THE CORRECT ONE
This is correct, when in any banquet hall substatial food is also provided, a exemption of 40% can be claimed, so rate of ST become 10.3% X 60% =6.18% (not 6.38%)
Notification No. 21/1997 dated 26.06.1997
oh thnx.....
but i even got a quotation from some banquets where the total charge was 22.5%
S.T-12.5%
VAT-10%
is that also correct???
there is no rate of vat @ 10%
CAclubindia
