Q4
Service Provided
Service to X Ltd | |
Consultancy Service | 1000 |
Add | |
Service Tax @ 14% | 140 |
Swachh Bharat Cess @ 0.5% | 5 |
Krishi Kalyan Cess @ 0.5% | 5 |
Total | 1150 |
Service Received
AIRTEL | |
Telephone Bill | 4000 |
Add | |
Service Tax @ 14% | 560 |
Swachh Bharat Cess @ 0.5% | 20 |
Krishi Kalyan Cess @ 0.5% | 20 |
Total | 4600 |
What is ?
Output Service Tax
Input Service Tax
Service Tax Payable
-a-
Particulars | Tax | Swachh Bharat Cess | Krishi Kalyan Cess | Total |
Output Service Tax | 140 | 5 | 5 | 150 |
Input Service Tax | 560 | 0 | 20 | 580 |
Service Tax Payable | 0 | 5 | 0 | 5 |
Closing Cenvat | 420 | 15 | 435 |
Note:-
Since there is closing Cenvat of Tax and Swachh Bharat Cess which we can carry forward to next period
However,we have to Pay Swachh Bharat Cess of 5 as it does not have any input
Q4B Continuing last question,Suppose in next period,
Service Provided
Service to X Ltd | |
Consultancy Service | 60000 |
Add | |
Service Tax @ 14% | 8400 |
Swachh Bharat Cess @ 0.5% | 300 |
Krishi Kalyan Cess @ 0.5% | 300 |
Total | 69000 |
Service Received
AIRTEL | |
Telephone Bill | 5000 |
Add | |
Service Tax @ 14% | 700 |
Swachh Bharat Cess @ 0.5% | 25 |
Krishi Kalyan Cess @ 0.5% | 25 |
Total | 5750 |
Particulars | Tax | Swachh Bharat Cess | Krishi Kalyan Cess | Total |
Output Service Tax | 8400 | 300 | 300 | 9000 |
Input Service Tax | 700 | 0 | 25 | 725 |
Add Opening Cenvat | 420 | 0 | 15 | 435 |
Total Cenvat | 1120 | 0 | 40 | 1160 |
Service Tax Payable | 7280 | 300 | 260 | 7840 |
Learn in your speed, with individual attention - Teachoo Maths 1-on-1 Class