Party had Invoice forward Material & Service combine Bill
raise & Service tax service amount on 10.30% raise so that
it is service tax is right claim yes Or No.i have confused
this invoice, i have TDS deduction and how persentage
Deducted Pl reply
Answers were Sorted based on User's Feedback
Answer / finance man
Vat will be charged on amount of material supplied, while
service tax will be charged on the value of service
provided.
Deduction of Tds, for safer side you can deduct on full
value, but argument says and as per law it only can be
decucted on the value of service provided exclusive of
service tax -
hope it will resolve your query.
Is This Answer Correct ? | 3 Yes | 0 No |
Answer / goutam bhalotia
As per provision of TDS , TDS should be deducted if any
payment made on account of commission, interest,
rent ...... etc.... if
In this case we need to go through whetehr particulars
payment is fall under the purview of TDS by nature of
payment and amount.
If it is then
TDS sshould be deducted on the invoice value excluding the
value of material and Sales tax )i.e on value of services +
Service tax.)
Is This Answer Correct ? | 2 Yes | 1 No |
hi, When we post vendor down payment by the t-code f-48 the TDS line items are not flowing when i am simulating it.there may be some error in configuration.please help me.
What is the limitation for loan from pvt ltd company to other sole proprietor company suppose 25 lakhs given. what is the rule at the time of income tax point of view. Please clarify anybody....
I am trader & my office in Delhi & I have any Material purchase from Puna & I want directly dispatch material from Puna to Ludhina which my customer. So what can I do this transaction ? & what will the tax pay.
what is the exemption for income tax u/s 80c and with other sections.
can some one pls explain briefly about 'Differed Tax'?
The company i approached asked me that they are registered Manufacturer to market fire extinguishers. They have both VAT & CST registration. When they supply material out of state i.e. under "C" form, to a Dealer who is also registered with CST and who can issue "C" form but for product paint. Will the "C" form issued by the Dealer be acceptable to us. What law governs, since the dealer is not registered to trade in Fire Extinguishers? In the first instance will he be able to issue "C" form at all i.e. Will the government allow him to issue "C" Form, if so under what norms? In the case that my company is the Dealer and registered for trading in Paint and we are taking Fire Extinguisher Dealership will I get set-off in "C" form for purchase and Sale. Kindly let me know on russel.raphael@gmail.com
what is mean by wct
How will you calculate house rent allowance (hra)?
what is the defference between tds & tcs ?
How should the personal assets of a salaried employee be shown in his books of accounts ?
We had paid TDS against rent in assessment year 2009-2010. But by mistake one of the pan no of the landlord was wrongly entered. Now the demand has been raised. Please advise how to correct the situation.
THE CUSTOMER IS FROM GOA STATE AND THEY PURCHASE GOODS FROM MAHARASHTRA UNDER C FORM THAT TIME THE CUSTOMER ISSUED C FORM ON WHICH AMOUNT TAXABLE OR INVOICE AMT(TAXABLE + 2%)?