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Answer Posted / ravipolina
The difference between between T.D.S & T.C.S are t.d.s means
tax deducted at source and it will be leivied when it
crosses income limit and it will be deducted at source
T.c.s means tax collected at source when we are making any
payment to contractor the tax amout will be deducted at
source and remaining payment will be made this can be
regarded as t.c.s
hope that the rates for both remains same
| Is This Answer Correct ? | 34 Yes | 68 No |
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I have some queries about Service Tax, I am working in a Insurance Broking Company. 1) We have raised one bill on 25.04.09 for the services provided by us in the month Mar, 09 Now We received the chq on May, 09 followed in the Month of June,09. When the service tax is actually payable in the month of received of Service tax amount or in the month of services actually provided by us (Mar09) 2) Can we take 100% credit of Service Tax Input paid to those who provided services to us. Suppose Service Tax payable is Rs. 100/- and Service tax charged by the other firms/company Rs. 80/-. The question is That can we deduct Rs. 80/- (already paid). Now Net ST payable would be Rs. 20/- or other percent of service tax input is available 3) What is the rate of interest for Service tax if not paid on time. Pls help me out asap
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