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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
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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 |
how to filing rt-1
Central purchase is eligible for issuance of H form. Whetther H form can be issued against local purcahse also? What I came to know is : earlier H form can be issued against central purchase only, but after intoduction of VAT, department issued notification regarding issuance of H form against LOCAL PURCHASE also. Is it true? If true then please tell me about notification/ circular/ relevant section or law. Please look into the matter. Thanx n Regards
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