1. How to calculate vat @4% on a bill which also suffers
Service Tax @ 10.30%. ie. Whether i hav to calculate on the
basic or on the sum of Basic + service Tax. kindly clarify
in this regard immdly. because som part of people says it
sholud b calculated on the basic, another part of people
says it should be calculated on the sum of Basic + Service
tax....
2. when we deduct TDS for the invoice? ie. In the invoice
which suffers Vat & also Service tax or the invoice which
suffers only Service Tax?
Kindly clarify me immdly.
Answers were Sorted based on User's Feedback
Answer / gaurav chaudhary
For Exp. Bill Amount is before Tax 20000/-
Vat @ 4% 800/-
Service Tax @ 10.30% 2060/-
Total Amount after tax 22860/-
TDS Charged Whole Amount 22860/-
Is This Answer Correct ? | 66 Yes | 22 No |
Answer / anirban nandy
Vat is calculated on Goods sold whereas Service tax is
charged on service rendered.
VAT & Service tax can't be charged on same item.
TDS is also deducted on service received from service
provider.Not on goods purchased.
We will calculate TDS only on the basic item value.
Is This Answer Correct ? | 29 Yes | 22 No |
Answer / inderjeet singh
SUPPOSE THE INVOICE RATE IS 2000.00
VAT@4% IS 80.00
SERVICE TAX@10.30% IS 206.00
--------
2286.00
--------
I THINK TAX DEDUCTED LIKE THIS.
Is This Answer Correct ? | 14 Yes | 8 No |
how to make the entry....??? sumit got salary 20000 & charge 10% tds on his salary..
What is the exemption limit of senior citizen for F.Y. 2010- 11?
should we can take modvat benefit any time or they have some limit time to take input benefit claim?
Can any One Plz Help Me with TDS Charts & Filling? Plz Send Me All Details to My email Id: satish.0483@gmail.com Plz Its Asked to Me In My Interview Held In Coming 2 Or 3 Days
What is TCS? Are the rates of TDS and TCS same??
who are liable to be registered under Vat Act
what are direct and indirect tax.
What is Rates and Taxes?
What is Excise duty? What is Edu Cess & Sec Edu Cess? Why and when it is applicable? What is Excise Claiming?
what is prepaid expenses & entry
Hospital and Telecomunication Service Tax Applicable or Not ?
what is F form E-I form and E-II form?