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what is serviuce tax,how to calculate service tax?
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
# 1
Service Tax means, The person who render the service he is
liable to collect the Service tax from the client and
payable to Government of India. the threshold limit for
Service tax for the FY 2008-09 10 lacs. The service tax
amount is Service TAx -12% & Cess-3%, Below is the example
if you are rendering softwareservices

Dr XXX ( Client Name ) 11236
cr Consulting Charges REcd 10000
Cr ServiceTax payable 1200
cr Edu.Cess Payable 36
Is This Answer Correct ?    266 Yes 64 No
# 2
ex:- you bill 12000/-

bill ammount 12000.00
service tax 12.36% 1483.00

total amount 13483
Is This Answer Correct ?    196 Yes 41 No
# 3
This is a tax recongnised by the Relevant Tax Authority
charged on services rendered to any given customer.

Calculation:- Value of service or goods xxx

Add % of Value of service x

Total value of service xxx
Is This Answer Correct ?    117 Yes 32 No
# 4
service tax manes exp:-
the service tax is calculate:-
bill amount 100000/
india tax rule as per -12.36%
bill value is 100000
add service tax 12.36%
total value is ----------
112360 is value of bill.
Is This Answer Correct ?    78 Yes 13 No
# 5
Service tax is a tax which is charged from the customer
receiving the service and provider of service charged this
amount and deposited to central Govt. of India.
Is This Answer Correct ?    51 Yes 8 No
# 6
Is This Answer Correct ?    54 Yes 26 No
# 7
bill value is 100000
add service tax 12.36%
Total Amt- 12360
Is This Answer Correct ?    46 Yes 21 No
# 8
Service tax is a tax which is charged from the customer
against the service and provider of service charged this
amount and deposited to central Govt. of India.

As per tax rule the service tax is 10.3%
If the bill valu is :- 100000
services tax :- (100000*10%) 10000
Education Cess :- (10000*2%) 200
Higher Edu Cess :- (10000*1%) 100

Grand total :- 110300
Is This Answer Correct ?    28 Yes 3 No
Dipayan Dey
# 9
applicable on Whom service which is recomed by Indian
govement under the rule of service Tax, Every business who
is cover in those service it is lible to pay service tax
directly or indirectly. culation of service tax is teqnical
issue . we take easy to count like.

If expenses
Bill amount 1000
S.Tax 100
E.cess 03

if income , Including profit
Bill amount 1500
S.Tax 150
E.cess 4.5

as on above , Service tax libilities

Service tax head ( 150-100 ) = 100
E.cess ( 4.50-3 ) = 1.50

as per above calculation , we will calculate service tax
monthly basis and deposit the same on date as per govt rule
( 5 of every month ) return of every six month
Is This Answer Correct ?    34 Yes 13 No
Harsh Vardhan
# 10
above 10 lacs than charge surchage on serviuce tax
otherwise we will ignore surcharge and after calculate
10%+3% on services
Is This Answer Correct ?    48 Yes 32 No

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