1. How to calculate vat @4% on a bill which also suffers
Service Tax @ 10.30%. ie. Whether i hav to calculate on the
basic or on the sum of Basic + service Tax. kindly clarify
in this regard immdly. because som part of people says it
sholud b calculated on the basic, another part of people
says it should be calculated on the sum of Basic + Service
tax....
2. when we deduct TDS for the invoice? ie. In the invoice
which suffers Vat & also Service tax or the invoice which
suffers only Service Tax?
Kindly clarify me immdly.
- 3 Answers
- 18742 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / gaurav chaudhary
For Exp. Bill Amount is before Tax 20000/-
Vat @ 4% 800/-
Service Tax @ 10.30% 2060/-
Total Amount after tax 22860/-
TDS Charged Whole Amount 22860/-
| Is This Answer Correct ? | 66 Yes | 22 No |
Answer / anirban nandy
Vat is calculated on Goods sold whereas Service tax is
charged on service rendered.
VAT & Service tax can't be charged on same item.
TDS is also deducted on service received from service
provider.Not on goods purchased.
We will calculate TDS only on the basic item value.
| Is This Answer Correct ? | 29 Yes | 22 No |
Answer / inderjeet singh
SUPPOSE THE INVOICE RATE IS 2000.00
VAT@4% IS 80.00
SERVICE TAX@10.30% IS 206.00
--------
2286.00
--------
I THINK TAX DEDUCTED LIKE THIS.
| Is This Answer Correct ? | 14 Yes | 8 No |
Pass a entry for purchase a material for Rs. 2000 inclusive of VAT @ 4% on Rs. 1500 & @12.5% on Rs. 500 with narration
what do you mean by return in taxes
WHAT IS EXECUTION OF WORKS CONTRACT ?
how to pass service tax reverse charge entry pass in books
while prepairing the quarterly retun for 26Q a validation errer is coming and cannot create the fvu file. The Challan details are NIL.The message is T-FV-1029 Invalid Challan Input file.
HOW MUCH PENALY IF SALES TAX IS NOT PAID ON DUE DATE IN HARYANA SALES TAX
1.What is the meaning of tranfer income?
IF the turnover of assessee is below Rs 50 lacs but profit declared is less than 5% of turnover . IS he subject to tax audit?
Please advise where to enter Income tax paid to Govt. in tally and on which head account to be created///
can we purchase software agaist Form under In the telecommunications network; or
1 Answers Accenture, Vodafone,
How the FBT is calculated ? what is FBT ?
We issued C for the provisional price first. Again for the payment of Price Variation payment a fresh C form is to be issued?
Audit 
