Hi All ,
I have the follwing scenrio,
Service Tax : 12.36 % , 40% service tax pay by service receiver and 60% service tax pay service provider.
Amt : 1000, service tax for 40% on amt 1000 comes 49.2 and 60% comes 73.8, here in my case iam service receiver so i have to pay 49.2, and this amount will go to service tax entry table, I have upload the recent object also of reverse service tax mechanism,
Now when iam defing the reverse tax 40 % it takes tax to whole amt 1000, and tax comes 123, which is wrong .
Any idea what i have missed in setup.
Regards,
Shailesh