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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1898)
 Accounting General interview questions  Accounting General Interview Questions (2808)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
Question
service tax and vat,both is possible on one item
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
Yes ,It can be possible in one item
Because VAT will be levied on goods and Service tax will
be levied on providing any kind of service.

Here we can see one example,

like,if there is any service station for two or four
wheelers, Mr.A come to wash their four Wheeler at the same
time he purchase mirror or any other accessories from that
service station the bill will be prepare with VAT and
Service Tax.

To wash the car = Service Tax

To purchase any Accessories = VAT
 
Is This Answer Correct ?    61 Yes 7 No
Pranjal
 
Answer
# 2
yes if item repair/jobwork by workshop which item new add
with job repair then, sales tax charges on 70% of full
basic amount of invoice & service tax charge on 30% of full
basic amount of invoice (if sale item is not calculate
separately)

yes if item service by workshop which new spare part add
in job repair then, sales tax charges on only spare parts
amount & service tax charge on service amount.
 
Is This Answer Correct ?    15 Yes 4 No
Srikant Barick
 
 
 
Answer
# 3
As you are aware, service Tax and VAT can not be imposed on single situation. Firstly, please take example of Mr. Ashutosh. If AMC amount includes value of software, Service Tax will be applicable because AMC services can't provided without software. Secondly, as asked by Mr. Shrikant, if the service provider repair the vehicle and service your vehicle without any part and part sold by them seperately then only service tax will applicable on servicing and Vat on spares. But when he used lubricants etc or replace parts during servicing and he can not provide Services without parts / lubricants then service tax will be applicable on entire amount received inclusive of value of Spares etc. 
Is This Answer Correct ?    3 Yes 1 No
Narsingh
 
Answer
# 4
YES IS POSSIBLE BECAUSE ONE GOODS TWO TYPES OF TAX INCLUDED
THE GOVT.

EXAMPLE; BUY ONE NEW COMPUTER
INCLUDED THE SERVICE TAX AND VAT
 
Is This Answer Correct ?    19 Yes 18 No
Vijayaraghavan
 
Answer
# 5
NO,As per constitution of India, VAT and Service tax (both)
cannnot be imposed on ONE ITEM.

BUT (A BIG BUT),VAT n SERVICE TAX both are imposing in the
sale of canned Software. THIS IS MERELY SAFEGUARDING OF
SKIN.

AND VAT = State Tax
SERVICE TAX = Central Tax. both have their different levy
power.
 
Is This Answer Correct ?    7 Yes 10 No
Atul Nema
 
Answer
# 6
actually i want to ask a question to Pranjal.
Well pranjal as u told that both service tax & VAT can be
levied on same items but as i understand service tax can be
levied on services rendered to u & VAT will be charged for
sale to u..my question is that i went for car wash..washing
charges is Rs.500(Assume).
i purchased a mirror for Rs. 200/=
So VAT will be charged on Rs. 200 & Service Tax will be
Charged on Rs. 500/=
so u want to say this only or u r saying that VAT & Service
tax both will be levied on Rs. 700/=
 
Is This Answer Correct ?    8 Yes 11 No
Sharique
 
Answer
# 7
hi
i am also facing this problem.i am auditing baba zarda
noida.company have a contract to a software maintenance co
for AMC. for this company raised a bill on BABA as follow:

Bill Amount Rs. 30896
S. tax @103%on 30896 Rs. 3183
VAT @10.8% on 30896 Rs. 3337
-----------
total Rs. 37416
is this calculation is correct?
i think it should be proportionate.
 
Is This Answer Correct ?    10 Yes 17 No
Ashutosh Jha
 

 
 
 
Other Taxation Interview Questions
 
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WHAT IS MAT   16
About "H"form   2
What is the general entry for TDS certificate received from the debtor of the company? Wipro 3
Can CST credit be claimed on CST paid? Is there a concept like Cenvat credit in CST just like in VAT?   1
AT 5% will be charged on 70% of Total Amount and Service Tax of 12.36% will be charged on 30% of Total amount   2
can we deposit UPVAT & Central Sale Tax through Net Banking from HDFC or YES Bank   2
can previous year be greater than a period of 12 months??   5
I Need Full details about calculating value added tax ?   1
If purchaser receive 4 nos Invoice from seller agnst Inter State Purchase in One Quarter and By mistake Purchaser issued one Form C in One Quarter only for 3 Invoice. Can he (Purchaser) issue another Form C for rest 4th Invoice or not???   3
IF I HAVE DONE WRONG POSTING OF SERVICE TAX I WANT TO REVERSE THE POSTING OF THE SAME IN SAP.   2
what is wct? what is it applied ?   2
What is difference between PAN No and TAN No   12
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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