Please Help: Calculation of Service Tax
Posted Date : 06-Mar-2013 , 12:01:12 pm | Posted By ANIL YADAV
Total turnover for the year 2011-12 was Rs. 30 Lac of rest-bar. abatement is 70 %. so it should be out of purview of service tax as taxable amount is less than 10Lac i.e. 30-21( 70% of 30) .
is it right...?
is it right...?
Category : Service Tax | Answers : 0 | Comments : 2 | Hits : 300
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CA Naveen Malik
08-Mar-2013 , 01:03:40 amna... exemption is on taxable services of aggregate value and not on taxable value of aggregate services... so, no reason for being happy...
saurabh kaushik
19-Mar-2013 , 06:45:57 pmabatement is given for less paying of Service tax not in turnover we normally do this because its mathematically cemes same ,,but in this case u r liable to pay Service Tax on 9 lakh @12.36 %,,,,,,u can also pay tax on 30 lakh @4.94%