what is service tax
Answers were Sorted based on User's Feedback
When any employer provide any service to his customer which
income is excess under the tax then company liable for the
pay tax.
Service tax charged at rate 12% + 3% E.Cess & H.& E.Cess
=12.36%
And service tax deposited of in under 5 days who you
charged service tax to his customers.
In the payment of Service tax amount you can Credit availed
duiring of the month.
Service tax filling return as half yearly basis on 15th
octuber & 15th April.
And if any company paurchased of any item who has Excise
duty & e.cess with h.e.cess then you can credit availed
when you received excise form to your seller.
| Is This Answer Correct ? | 16 Yes | 4 No |
Answer / kavitha
it is the tax which is payable on the service that we
receive from the authorised dealers or service provider.
The rate of tax is12.36% every three month end we have
to pay the service tax and six months once we have to file
the returns. while we filling the return we have to produce
the documents related with the input tax credit there on.
we can claim input tax on the service tax payable, for eg.
if the dealer is a authorised person, then he can claim
the tax amount of telephone bill( landline)(25%), courier
bills(25%), security bills(100%)advertising bill(25%).
| Is This Answer Correct ? | 10 Yes | 1 No |
Answer / afridi
Service Tax is a form of indirect tax imposed on specified
services called "taxable services". Service tax cannot be
levied on any service which is not included in the list of
taxable services. Over the past few years, service tax been
expanded to cover new services. The objective behind
levying service tax is to reduce the degree of intensity of
taxation on manufacturing and trade without forcing the
government to compromise on the revenue needs. The
intention of the government is to gradually increase the
list of taxable services until most services fall within
the scope of service tax. For the purpose of levying
service tax, the value of any taxable service should be the
gross amount charged by the service provider for the
service rendered by him.
Some of the major services that come under the ambit of
Service Tax are:
Telephone
Stockbroker
General Insurance
Advertising agencies
Courier agencies
Consulting engineers
Custom house agents
Steamer agents
Clearing & forwarding agents
Air travel agents
Tour operators
Rent-a-Cab Operators
Manpower recruitment Agency
Mandap Keepers
Architects
| Is This Answer Correct ? | 4 Yes | 0 No |
Is wct charged on firm or proprietors ?
I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 - 0 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?
what is e-1 sales
Managing Director personal income tax is company exp ? in which a/c ledger we should debit MD income tax amount ? Property tax is exp. or liabilities ?
I want to do correspondence course related for taxation, where I can learn income tax, service tax, sales tax etc. Any one can suggest from which university can I do and name of the course also.
under form 38,(1 no) what is the maximum no. of invoices can be done??? under rule-54(3)(a) of UPVAT RULES 2008
What are the new TDS rates for Contractor and Sub Contractor for the F.Y.2009-10
WHAT IS THE PROVISION FOR NET PROFIT & LOSS IN PVT LTD CO & LTD CO GIVE ME THE EXAMPLE WITH ENTERY ON MY EMAIL sonidilip87@yahoo.com
i have a bank statements for a xyz company, how did start Bank Reconciliation Statement, what is the concept of BRS and what is the steps to follow up the BRS. can u told how to do brs in Excel easily. please solve my question.
what is use of form D, F, G, H, in Mvat
SIR, I HAVE SOLD GOODS FORM FARIDABAD TO MUMBAI ON 2007 AND PARTY HAS PAID MY INVOICE VALUE AND NOW WE ASK FOR C FORM , THEY IGROGE TO PROVIDE C FORM AND SAY WE HAVE PAY YOU YOUR INVOICE AMOUNT. SO HOW MUCH PANELTY AMOUNT SHOULD SALESTAX DEPARTMENT WILL CHARGES FROM US IF NOT PROVIDE C FORM. PATY ALSO SAY TO TEL US PANELY AMOUNT ? THEN THEY CAN GIVE PANALTY AMOUNT BUT NOT C FORM ? please reply soon
what is Direct and Indirect Tax? can any body tell me with example.