what is serviuce tax,how to calculate service tax?
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Answer / rajesh
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 ? | 298 Yes | 76 No |
Answer / rajthilak
ex:- you bill 12000/-
bill ammount 12000.00
service tax 12.36% 1483.00
total amount 13483
| Is This Answer Correct ? | 229 Yes | 51 No |
Answer / sunny
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 ? | 128 Yes | 34 No |
Answer / lokeshwar
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%
12360
total value is ----------
112360
112360 is value of bill.
| Is This Answer Correct ? | 96 Yes | 17 No |
Answer / rahul
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 ? | 61 Yes | 11 No |
Answer / mahesh
bill value is 100000
add service tax 12.36%
Total Amt- 12360
| Is This Answer Correct ? | 57 Yes | 23 No |
Answer / dipayan dey
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 ? | 40 Yes | 10 No |
Answer / harsh vardhan
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 ? | 37 Yes | 13 No |
Answer / chandrashekhar
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 ? | 52 Yes | 32 No |
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