How do I calculate tax on an Excel spreadsheet?
How do I calculate tax on an Excel spreadsheet?
Calculate sales tax if you get price exclusive of tax In this condition, you can easily calculate the sales tax by multiplying the price and tax rate. Select the cell you will place the calculated result, enter the formula =B1*B2 (B1 is the price exclusive of tax, and B2 is the tax rate), and press the Enter key.
How is service tax calculated on a flat?
Computation of Service Tax on Under Construction Property So Service Tax @ 15% on 25% of the Total Purchase price is levied on under Construction Property. In other words Service Tax @ 3.75% (25% of 15%) is levied on the total price paid for the purchase of an under construction property.
How is service tax calculated on freight?
The actual amount of service tax payable is 25% of the amount of freight i.e. 75% of amount of freight is provided as abatement, subject of the condition that no Cenvat credit of the duty paid has been availed of under Cenvat Credit Scheme.
What are the elements of service tax?
Name and address of the service receiver. Name, address and registration number of the service provider. Classification, description as well as taxable service value of the service that is rendered. Payable service tax amount to be mentioned on the invoice.
What is service tax on property?
Service Tax is levied by the Central government on the construction services offered by the developers to buyers. At present, the Service Tax rate in India is 15 per cent. The basic cost of the property that you pay includes the cost of land and construction. Service tax is applied only on the construction component.
What is service tax on under construction property?
So Service Tax @ 15% on 25% of the Total Purchase price is levied on under Construction Property. In other words Service Tax @ 3.75% (25% of 15%) is levied on the total price paid for the purchase of an under construction property.
What is IFS formula in Excel?
The IFS Function in Excel is a Logical function. The function is an alternative to the Nested IF function and is much easier to use. The IFS function checks if one or more than one conditions are observed or not and accordingly returns a value that meets the first TRUE condition.
