What is the service tax rate

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accountant
20 Points Posted on 01 July 2012

Dear sir  ,

Good Evening

we are maintainig one photo copy machine on monthly Rental basis (Ricoh india )

they are calculating the service on Gross Value 12.36%

But Our Company people Gross value *33%

ex : Total value:15000/-

+ Service tax :15000*12.36/100

But our company people calculate 15000*33/100:

4950*12.36%

whether it is correct or wrong

Thanks

Badraiah p


 

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On 01 July 2012 at 15:52 Report
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Taxation Manager
20 Points Posted on 02 July 2012
As per the recent changes made in the Works Contract in Service Tax determination rules, the present AMC work is a works contract. Now, if material consumption can be identified then the valuation is different. But if it cannot be separtely ascertained, then the value of service portion will be 70% of the bill value, as per the slab provided in the above said rules.
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On 02 July 2012 at 17:45

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