We charge GST 4.95% on gross amount but after service tax reduced 12% to 10% so please let me know what is the new gst on Car Rental???
what is calculation formula of gst???What is the new Govt Service Tax rate on Car Rental (Hire)?
60% amount of Gross Receipt is exempted from Service Tax on Car Rental. Hence only 40% of Gross Receipt will be liable for Tax and on that amount you charged 10.3% service Tax. In net sell you charges S. Tax @ 4.12% on your Gross Amount.
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