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complete information about these taxes-income tax,ser vice
tax,sales tax,vat,excise with complete detail-mening,all
form ,date of filling,procedure,heads,rates for 2008-09 year?
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INCOME TAX - IS the tax which is paid directly to the
centralgovt by the assesse on the income earned
SERVICE TAX - IS the tax which is paid for rendering of
services in this case the seller of the service collects
the service tax towhomhe is rendering the service &
indirectly pays to the centralgovt
sales tax - is the tax which is leivied at the point of
sale this tax will be leivied on sales
RATE - 12.36%, 12% IS SERVICETAX, .36% IS E.D CESS
vat - value added tax ,vat is a formof salestax which is
collected in different stages of transactions like buying
selling & distribution of goods & services the input tax
is rebated against the out put tax is called as vat
FORMULAE - OUTPUT - INPUT
RATES - 1%,4%,12.5%
EXCISE - Excise duty willbe paid when the goods are
removing out side the gate they need to pay the duty known
as excise duty it could be also called as cenvat
FORMULAE - SAME AS VAT
RATE - 14%
| Is This Answer Correct ? | 20 Yes | 4 No |
what is service tax charged in india
Pass a entry for purchase a material for Rs. 2000 inclusive of VAT @ 4% on Rs. 1500 & @12.5% on Rs. 500 with narration
Is Late fee and service tax thereon LIC Premium is elgible for deduction u/s 80C ?
In the Balance sheet of a company you see the following details, Liabilities: Provision for tax - AY 2008-09 RS 200000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 Assets: Advance Tax- AY 2008-09 RS 150000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 On 15-03-2011, the assessment order for AY2008-09 was received and the final tax liability was stated to be RS 250000. Pass the journal entry for the closing of the relevant accounts in the books for the AY 2008-09.
what do u mean by excise duty?
If We received Purchase bill for Rs. 67320 2% CST ( Ta Rs. 1320 on Assessable value of Rs. 66000/- ) against Form C but while making payment we had paid as per 12.50 % Tax amount i.e. 8250 . Total paid Rs. 74250/- then is it necessary to give Form C to the party?
I need c-form. But our business is auto-cad training center. I want purchase some computer. So, how to received c-form.
which is the first liability for pay Service Tax to GOvt
What extra accounts and legal formalities are maintened In excise firm other then normal saling firm.? also tell me tax aspect in Excise firm?
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Is the Cess to be charged on the TDS made on Proffessional Charges?
What is the depriciation charged on animals such as elephants,dogs etc?
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