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What amount to be calculatatio for service tax?
I am requesting you to please help me to calculate service tax @ 15%.
ex: i was recently appointed as an accountant for an educational instistute. They collect 95000/- fee from student. out of 95000/-, rs.12000/- deduct for library fund. Now my doubt is service tax 15% calculation should i calculate either on 95000/- or 83000/-. Please help me to calculate st
Replies (4)
you have to calculate service tax on Fee less Fund i.e., on 83000/-
Service tax to be calculated on 83000.
Service tax should be charged on the whole amount i e 95,000. Because the whole consideration received is for the service rendered
THANK YOU VERY MUCH SIR
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