Raman rendered a taxable service to a client on 26.08.2013. A bill of ₹4,49,440 was raised on 30.08.2013 of which ₹2,50,000 was received from the client on 2.10.2013 and the balance on 23.10.2013. No service tax was sepa
CS Executive · Tax Laws and Practice · PYQS · December 2014
Raman rendered a taxable service to a client on 26.08.2013. A bill of ₹4,49,440 was raised on 30.08.2013 of which ₹2,50,000 was received from the client on 2.10.2013 and the balance on 23.10.2013. No service tax was separately charged in the bill. The value of taxable services and service tax payable are —
Answer & Explanation:
Correct Answer: Option (A)
Correct answer: (A) ₹4,00,000 and ₹49,440 respectively. Tax-inclusive value 4,49,440/1.1236 = 4,00,000; service tax including then applicable cesses = 49,440. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.
Topics: Service Tax
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