If Bill value is Rs.2,40,000,this service tax is Rs.24720(10.3%*240000) and this Tds is (2%(240000+29664))5294.40. Total outstanding of client Rs.259425.60 (240000+29664-5393.28).In this calculation we want to pay service Tax is Rs.29664,Is it right or not
From India, Rajkot
From India, Rajkot
Hi,
The invoice raised to a client is as follows:
Professional fee: INR 2,40,000/-
Service Tax@10.3% INR 24,720/-
_______________________________________
Total amount: INR 2,64,720/-
TDS deducted at the rate of 10% on the total invoice amount i.e
INR 26,472/-. This is practiced by most companies availing the services. As per this invoice amount you need to pay the service tax mentioned above.
Thanks,
Sanjay
From India, Hyderabad
4The invoice raised to a client is as follows:
Professional fee: INR 2,40,000/-
Service Tax@10.3% INR 24,720/-
_______________________________________
Total amount: INR 2,64,720/-
TDS deducted at the rate of 10% on the total invoice amount i.e
INR 26,472/-. This is practiced by most companies availing the services. As per this invoice amount you need to pay the service tax mentioned above.
Thanks,
Sanjay
From India, Hyderabad
Thank you very much sanjay But Now also Client TDS calculating on 2% on Total Bill value , But another company deduct 1% .Would you tell me his provision and rules
From India, Rajkot
From India, Rajkot
Service tax is calculated on the invoice amount raised to the client. Some clients deduct TDS on the service provided amount but not on the total invoice amount that is including the service tax. Hence you will notice the difference in deduction from company to company.
Thanks,
Sanjay
From India, Hyderabad
Thanks,
Sanjay
From India, Hyderabad
I am working in construction co.Our co. build cement plant, so If our co.build complete project 5 Years. so we will do bill in monthly wise so we will do in One month work 100% and add 10.3% service tax and his Tds certificate will be Issued to the Client (cement co.). The Tds certificate calculated 1% or 2%. So the client giving money not bill wise,he will give money in this year or mostly next year. If his calculation he provide service tax (10.3% of bill value) seperately.Still we get 2010-2011 bill amount through bank so we would paid service Tax in bank receipt wise or the service tax getting wise(his client statement shown service tax 6 bill add and give it )
So,If receipt of bank side may be Rs.1,00,000 But service tax get aginst bill value Rs.75,000.If we are calculate service tax Receipt side basis or Service tax getting basis .Please tell me
From India, Rajkot
So,If receipt of bank side may be Rs.1,00,000 But service tax get aginst bill value Rs.75,000.If we are calculate service tax Receipt side basis or Service tax getting basis .Please tell me
From India, Rajkot
Can any one provide me service tax calculation sheet with cenvat. i will greatfull to him as i will help me to understand practical situation of service tax
From India, Delhi
From India, Delhi
service provider should make payment of service tax at the time of raising the invoice to the clients or on completion of service? or Service tax amended to the effect that the service provider can make the payment of service tax on receipt of the payment from clients as per entry in books of account or credit of amount in Bank account? which is correct ????plz tell me
From India, Mumbai
From India, Mumbai
Hi,
Service tax is paid after that amount is collected from the service receiver. Please do check SERVICE TAX PAYMENT DUE DATE FREQUENTLY ASKED QUESTIONS | SIMPLE TAX INDIA to know the more on the technical details on service tax and its payment cycle dates.
Hope the above link will answer most of your queries.
Regards,
Sanjay
From India, Hyderabad
Service tax is paid after that amount is collected from the service receiver. Please do check SERVICE TAX PAYMENT DUE DATE FREQUENTLY ASKED QUESTIONS | SIMPLE TAX INDIA to know the more on the technical details on service tax and its payment cycle dates.
Hope the above link will answer most of your queries.
Regards,
Sanjay
From India, Hyderabad
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Tax calculation.xls