I just want to know about, how to calculate service tax and On which amount does calculate a company?
From India, Mumbai
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2From India, Mumbai
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Hi Radimnight,
Service tax is similarly applicable on both firms and companies; however, the current service tax rate is 14.5% - comprising of 14% service tax and 0.5% Swachh Bharat cess. Starting from 1/6/2016, the Krishi Kalyan Cess (KKC) will come into effect, resulting in the service tax rate becoming 15%.
Do remember, if the service covers abatement, then the calculation would be as follows: For example, if you have eaten food in a restaurant, the restaurant will charge service tax on 40% of the value, i.e., 5.8%.
Regards,
Devesh
From India, Basti
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Service tax is similarly applicable on both firms and companies; however, the current service tax rate is 14.5% - comprising of 14% service tax and 0.5% Swachh Bharat cess. Starting from 1/6/2016, the Krishi Kalyan Cess (KKC) will come into effect, resulting in the service tax rate becoming 15%.
Do remember, if the service covers abatement, then the calculation would be as follows: For example, if you have eaten food in a restaurant, the restaurant will charge service tax on 40% of the value, i.e., 5.8%.
Regards,
Devesh
From India, Basti
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