Dear All,
I am working in a start up Manpower recruitment agency.
Invoice will be like this:
8.33% on Salary = 23070
Service Tax = 2851
Total net amount= 25921
Our client will deduct 10% on net amount i.e., 2592.1 on 25921. So we shall receive 23,328.
Client is paying the bill after candidate completing 6 months of service. But invoice will be raised on the Date of joining of the candidate.
Since our agency is a start up Proprietorship firm where the turnover is less than 10 Lakh. But still we have registered under service tax.
Please clarify on he below:
1) How much Service Tax should we pay to the Govt on the above invoice?
2) Since Client is paying after 6 months, so when should we raise the invoice? When should we pay the service tax, whether after receiving the payment or immediately after raising the invoice?
3)How can we claim TDS and when..will we come under Income Tax?
Kindly post your knowledge on the above. It would be grate favour to us.
Regards
RVR
I am working in a start up Manpower recruitment agency.
Invoice will be like this:
8.33% on Salary = 23070
Service Tax = 2851
Total net amount= 25921
Our client will deduct 10% on net amount i.e., 2592.1 on 25921. So we shall receive 23,328.
Client is paying the bill after candidate completing 6 months of service. But invoice will be raised on the Date of joining of the candidate.
Since our agency is a start up Proprietorship firm where the turnover is less than 10 Lakh. But still we have registered under service tax.
Please clarify on he below:
1) How much Service Tax should we pay to the Govt on the above invoice?
2) Since Client is paying after 6 months, so when should we raise the invoice? When should we pay the service tax, whether after receiving the payment or immediately after raising the invoice?
3)How can we claim TDS and when..will we come under Income Tax?
Kindly post your knowledge on the above. It would be grate favour to us.
Regards
RVR