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TMI BlogWhether Service Tax Payable Considering Inclusive Bill or Exclusive?X X X X Extracts X X X X X X X X Extracts X X X X ..... Sir/Madam, I am a Service Provider and Have Drawn the Bill on my Customer as Follws: 100 BAsic 10 Service Tax 2 E/C 1 SHEC and Customer Pays me Rs/- 100 so shall i need to pay tax on 100 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or assuming it to be inclusive pay 100*100/100= 90 and pay Service tax on Rs/-90 to the credit of CG. Regards!! - Reply By CA Rachit Agarwal - The Reply = As per Rule of Point of Taxations, 2011 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , you have to pay the tax as given in the bills. As per the rule tax is payable earlier of 1. payment received 2. Bills Received. However if final bills is 100, service tax =100*10.30%/(110.3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0%). According basic value is Rs. 90.66 and Service Tax is Rs. 9.34. - Reply By NEERAJ KUMAR, RANCHI - The Reply = Dear Mr vartik As Mr Rachit has suggested, if you have raised bill on the basis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Rs. 100, you need to pay s tax on 100 only, however if you have received only Rs 100/- only inclusive of service tax you need to correct you bill, but this should be done within the prescribed lim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it as per the Point of Taxation Rule. - Whether Service Tax Payable Considering Inclusive Bill or Exclusive? - Query Started By: - Vartik Choksi Dated:- 12-11-2011 Service Tax - Got 2 Replies - Serv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ice Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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