when we calculate the inclusive Tax for Room in Hotel then we first Calculate luxury Tax and the what is the Balance Amount renaming on that We calculating Service Tax is it correct?
Answer / abhivirthi tax and industrial
Some Lodging Houses will issue Accommodation receipts to aggregate amount i.e. including Luxury Tax. If tax is not shown separately the luxury tax element and Accommodation Rent amount has to be arrived applying the following formula.
Rate of Luxury Tax X Aggregate Accommodation Rent
100 + Rate of Luxury Tax
By using the above formula, the rate of the Accommodation Room Rent and Luxury Tax will be separated and after arrival of the rate of Accommodation Room Rent, divide by Number of Days and the actual rate will be available.
For example the rate of Luxury Tax is 10% and the Lodge Owner collects Rs. 1000.00 including Luxury Tax for one day stay, the Luxury Tax and Accommodation Rent per day may be arrived as shown below:
10 X 1000.00 90.91 is 10% Luxury Tax
110
818.19 is the Accommodation Rent
----------
1000.00 is the Total Bill including 10%
--------- Luxury Tax
Reply from:
ABHIVIRTHI Tax and Industrial Consultancy
R.R. Jagadeesan
VAT PRACTITIONER AND INDUSTRIAL CONSULTANT
H-63, Palaami Enclave, New Natham Road,
Madurai-625014
www.abhivirthi.blogspot.com
Cell: 9994990599
Is This Answer Correct ? | 0 Yes | 1 No |
what is service tax rate of work contract in f.y.2012-2013 and what is compos ion scheme and normal scheme
I have an interview, they are asking direct and indirect taxes and exp. pls tell me any one regarding this which type of questions they will be asking.
statutary compliances?
what is defferred tax liability ? explain with 2 example.
wHAT IS THE DIFFRANCE BETWEEN PAN NO. AND TAN NO. AND WHAT IS THE USE OF BOTH OF IT......?????
how to get a TIN number of the party in madhya pradesh whereas i puchase good in west bengal
I WANT FULL DETIAL FOR TDS I AM NEW JOING THE GOLD COMPANY I WAN TO PAY TDS BUT I KNO WHAT IS THE TDS PLEASE SEND ANS FOR FULL DETAILS HOW TO PAY, AND WHAT A/C PAY TDS ALL DETAILS I WANT PLEASE SEND THE DETAILS.
Can Guradians (other than parents) be dependents and can we get exemption on them at Taxation part like Medical, LTA and Sec 80DD? Pls Comment.?
I am an registered dealer in Rajasthan State, and I am selling goods out of Rajasthan to a registered/unregistered dealer without 'c' form. What cst will be charged on it?
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
0 Answers ABB, Chartered Accountant,
V R MAKING COMMERCIAL CUM EXCISE INVOICE,THEN HOW INVOICE NUMBER CAN BE GIVEN COMBINDLY OF TAX INVOICE/RETAIL INVOICE AND EXCISE INVOICE.
Whether Luxury Tax is applicable for ICU Bed charges..