serice tax

[Former Member]

Hi all,

How is service tax accounted? Do we get back the amount paid ? Please give some info about service tax.

Thanks & Regards,

[Former Member · Accepted solution]

HI,

U will have to maintain the separate service conditions in the service pricing procedure.

Frame the conditions as per the requirement and incorporate those logically in to the service pricing procedure.

The service tax is not given back. Its the tax paid for providing the services laid as per the Govt. norms.

Hope this is helpful

Regards,

Prasanna

Award pls if helpful.

[former_member529134]

Hello

Service tax is the tax imposed on charges of services performed by a service vendor. We can avail CENVAT credit for the service tax amount paid by us.

Normally the service tax amount is 12%+2& Edu Cess + 1% HEduCess. The central govt has specified 86 serives for which service tax is applicable.

It can be setoff against the CENVAT to be paid.

Regards

Grgeory Mathews