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Service Tax Calculator

Calculation of Service tax using Service Tax calculator while include and exclude taxes.

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Service Tax Calculator

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  1. Service Tax Calculator Powered By www.taxqueries.in

  2. Contents • Service Calculator India • Online Service Tax Calculator • Service Tax • Steps to use Service Calculator • Service Tax Rate in India Powered By www.taxqueries.in

  3. Service Tax Calculator India • Service tax is levied at a fixed rate. This rate is applied on the gross value of taxable services and the result is called output service tax. • We are providing thisOnline Service Tax Calculator Indiato get the exact Service Tax on service offered by the Service Providers in India. • Calculate Service Tax amount in India with this latest Service Tax Interest Calculator.  Powered By www.taxqueries.in

  4. Online Service Tax Calculator • Service Tax Online Calculator is to evaluate the tax from the net or gross price of a service. The Service tax is collected from the consumer, and the same should be paid to the central government.  • Any business which is liable to pay service tax may use Service Tax Online calculator to determine the exact ST tax by supplying the inputs of the net or gross amount and applicable tax percentage.  • Thecalculation of Service tax is easy to understand. Powered By www.taxqueries.in

  5. The amount of Service tax that can be levied is calculated as a percentage of the charges received or paid for the provision or receipt of services in India. 15% Service tax is levied on the value of taxable services.  • The Government of India has levied service tax on almost all the services barring a few services.  • The service charges in your Statement of Accounts are inclusive of Service Tax of 12% and Education Cess of 2% and Higher Secondary Education Cess of 1% on Service Tax. Powered By www.taxqueries.in

  6. Service Tax • Service Tax is an indirect tax wherein the service provider collects the tax on services from service receiver and pays the same to the government of India.  • Service tax in India is a tax levied by Central Government on services provided.  •  The service tax has been enforced on all services in India. • This Tax is a destination based consumption tax leviable in services provided within the country. Powered By www.taxqueries.in

  7. Steps to use Service Tax Calculator • Enter Amount in the First Field in rupees. (If enter Amount does not include any  taxes). • Select Service Tax Calculator as per the Financial Year, i.e., 14% for including Education Cess. • And also enter Swachh Bharat Cess as 0.5% in the Service Tax Calculator Swachh Bharat Cess field. • Enter Krishi Kalyan Cess of 0.5% in the Krishi Kalyan Cess field. • Click on Calculate. • Here you can get the Gross value and 14% of Service Tax and 0.5% of Swachh Bharat Cess and 0.5% of Krishi Kalyan Cess amount in the respective fields. • And You can check the Gross Charge and  Total Service Tax Rate 15%  Powered By www.taxqueries.in

  8. Example for Calculation of Service Tax • The Gross value of services provided is Rs. 15,000/-. • Service Tax is 14% (Includes Education Cess of 3%). • Swachh Bharat Cess is 0.5% of the total Gross value. • Krishi Kalyan Cess is .05% of the total Gross value. Service Tax Calculation while Amount includes Taxes, Check out the Formula for Calculation of Service Tax includes taxes in India. Check out the service tax calculation formula here. • Gross Amount = (Gross Value Amount include Taxes*100)/(100+Service Tax Rate) • Gross Amount= Rs. 15000*100/(100+15)=  Rs. 13043.478 • Service Tax rate 15% • Service Tax (ST) = Rs. 13043.478 * 14% = Rs. 1826.08/- • Swachh Bharat Cess = Gross Amount* 0.5% = Rs. 13043.478 * 0.5% = Rs. 65.22/- • Krishi Kalyan Cess =Gross Amount*0.5% = Rs. 13043.478* 0.5% = Rs. 65.22/- • Adding these up, the total tax is Rs. 1956/-. • The total Service Tax rate is Rs. 13043.478 + Rs. 1826.08+ Rs. 65.22+Rs. 65.22= Rs. 15,000/-. Powered By www.taxqueries.in

  9. Service Tax Interest Calculator • Swachh Bharat Cess is a Cess, which shall be levied and collected under the provisions of Chapter VI of the Finance Act, 2015, as service tax on all the taxable services @ 0.5% of the value of taxable service. • Krishi Kalyan Cess is to be Charged and collected as Service Tax on all taxable services at the rate of 0.5 % on the value of services.  • Education Cess is collected to provide Children with the mid-day meals, To increase salaries to the staff of the School so that they can contribute effective subject to the children.  Powered By www.taxqueries.in

  10. Service Tax Rate in India • Service Tax rate is essential for Service Tax Calculator. Let us check the Service Tax Rate in India here. Powered By www.taxqueries.in

  11. THANK YOU For more details http://www.taxqueries.in/service-tax/service-tax-calculator/ Powered By www.taxqueries.in

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