About current st rate
This query is : Resolved
31 March 2015
Dear Sir/Madam,
Please tell me the current Service tax rate bifurcation which will applicable from 01/04/2015.
Thanking You,
Satendra Mishra
Please tell me the current Service tax rate bifurcation which will applicable from 01/04/2015.
Thanking You,
Satendra Mishra
31 March 2015
there is no notification for applicability of new service tax rate from the service tax dept....so it will continue to be 12.36%
01 April 2015
Please refer D.O.F. No. 334/5/2015-TRU Dated 28.02.2015 from link given below:
https://www.cbec.gov.in/ub1516/do-ltr-jstru2.pdf
In point No. 3.1 it is clearly mentioned that "The rate of Service Tax is being increased from 12% plus Education Cesses to 14%. The ‘Education Cess’ and ‘Secondary and Higher Education Cess’ shall be subsumed in the revised rate of Service Tax. Thus, the effective increase in Service Tax rate will be from the existing rate of 12.36% (inclusive of cesses) to 14%, subsuming the cesses.
In Point No. 3.3 it is also mentioned that "The new Service Tax rate shall come into effect from a date to be notified by the Central Government after the enactment of the Finance Bill, 2015."
So till the new rates are notified Service Tax rate will be 12.36%. So as of now new rates are not applicable from 01.04.2015.
https://www.cbec.gov.in/ub1516/do-ltr-jstru2.pdf
In point No. 3.1 it is clearly mentioned that "The rate of Service Tax is being increased from 12% plus Education Cesses to 14%. The ‘Education Cess’ and ‘Secondary and Higher Education Cess’ shall be subsumed in the revised rate of Service Tax. Thus, the effective increase in Service Tax rate will be from the existing rate of 12.36% (inclusive of cesses) to 14%, subsuming the cesses.
In Point No. 3.3 it is also mentioned that "The new Service Tax rate shall come into effect from a date to be notified by the Central Government after the enactment of the Finance Bill, 2015."
So till the new rates are notified Service Tax rate will be 12.36%. So as of now new rates are not applicable from 01.04.2015.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
