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Blog Entry# 536313
Posted: Sep 27 2012 (12:10)
36 Responses
Last Response: Sep 28 2012 (08:38)
36 Responses
Last Response: Sep 28 2012 (08:38)
31 Posts
Suppose you purchase a ticket for Rs.1000 then service tax is levied for 30% of that amount which is Rs.300. usually Service tax is 12..36% which means 300*0.1236=37.08.
Fare + tax= 1000+37.08=1037.08
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So if we multiply 12.36*0.3=3.708. So now we can calculate straight from the total fare i.e 1000*3.708%=1037.08
Fare + tax= 1000+37.08=1037.08
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So if we multiply 12.36*0.3=3.708. So now we can calculate straight from the total fare i.e 1000*3.708%=1037.08
Let news play any tune.
As per Tax Laws, anyone authorized to 'collect tax at source' can not collect More Tax. And this is the violation of Taxing principle. Even if more tax is collected, same has to be refunded forth with.
For meager amount of 'tax refund', lots of paper work will mean extra work...
Instead: Railways can streamline both 'collection of tax'...
more...
As per Tax Laws, anyone authorized to 'collect tax at source' can not collect More Tax. And this is the violation of Taxing principle. Even if more tax is collected, same has to be refunded forth with.
For meager amount of 'tax refund', lots of paper work will mean extra work...
Instead: Railways can streamline both 'collection of tax'...
more...