Example 2:-
Following are Services and Purchases Details of a Service Provider registered in Service Tax
Services Details
|
Particulars |
Amt |
|
Consultancy Income |
100000 |
|
Service Tax 14% |
14000 |
|
Total |
114000 |
Expense Bills
|
Particulars |
Amt |
|
Particulars |
Amt |
|
Particulars |
Amt |
|
Purchase |
40000 |
|
Telephone Bill |
3000 |
|
Machine |
60000 |
|
Excise 12.5% |
5000 |
|
Service Tax 14% |
420 |
|
Excise 12.5% |
7500 |
|
Total |
45000 |
|
Total |
3420 |
|
Total |
67500 |
What is Cenvat and Service Tax Payable?
-a-
Service Tax Computation
|
Particulars |
Amt |
|
Total Output Service Tax |
14000 |
|
|
|
|
Cenvat (Input) |
|
|
Inputs |
5000 |
|
Input Services |
420 |
|
Capital Goods ½ |
3750 |
|
Total Input/Cenvat |
9170 |
|
|
|
|
Service Tax Payable |
4830 |
Note:-
Input is not available in all types of Excise duty and Service tax Bills.
To understand in which bill, Cenvat is available, lets understand Inputs, Capital Goods and Input Services in detail one by one.
