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Question from SAPFIsandeep on Jun 12 at 12:06 AM Dear Friends
We are on support project, and they given a epc contact to a vendor.
Vendor supply cement etc and as well as constructing the frame and
structure etc.
Now they send the invoice for service is as
base for service tax will include the goods used and as per rules and epc
contract service tax will be calulated on 40 % of (price of serce + goods
used ) and net invoice value will be price of service + tax as calulated.
rate of service tax is 12.36%.
Please advise how we will setup fro service tax calculation:
example:
Base price of service 100/-
goods use 50/-
service tax will be@ 12.36% = 12.36% of 150/- = 18.54
Net invoice value = 118.54
Please advise
Sandeep Jain
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