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.
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Answer Posted / 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 |
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