Amendment on 24 Feb, 2009
This query is : Resolved
25 March 2009
As per the latest amendment of service tax if a person is charging commercial rent or consultancy fees for the month of Feb 09 at the end of the month then service tax will be charget @ 10% or 12% or proportionately.
If rent is charged in advance then at the intial stage service tax will be charged @ 12% but after comming amendment for that month service tax will be 12% or later on debit note will be issued.
Please tell me.
If rent is charged in advance then at the intial stage service tax will be charged @ 12% but after comming amendment for that month service tax will be 12% or later on debit note will be issued.
Please tell me.
26 March 2009
SERVICE TAX.
1. Rate of Service Tax - The rate of service tax is reduced from existing 12% to 10% w.e.f 24th February, 2009 vide notification no 8/2009-ST dt 24th February 2009.
Thus, the effective rate of service tax is 10.30% w.e.f 24-02-2009.
2. The reduced rate is applicable only for the services which are rendered w.e.f 24th February 2009 and not for services which have been provided prior to said date.
3. It is advised that the bill for the services rendered upto 23rd February 2009 should be raised as on 24th February, 2009 by applying the old rate of 12.36 %.
1. Rate of Service Tax - The rate of service tax is reduced from existing 12% to 10% w.e.f 24th February, 2009 vide notification no 8/2009-ST dt 24th February 2009.
Thus, the effective rate of service tax is 10.30% w.e.f 24-02-2009.
2. The reduced rate is applicable only for the services which are rendered w.e.f 24th February 2009 and not for services which have been provided prior to said date.
3. It is advised that the bill for the services rendered upto 23rd February 2009 should be raised as on 24th February, 2009 by applying the old rate of 12.36 %.
11 April 2009
Still can u clearify what will happen when commercial rent is paid in advance. what is treatment of service tax
15 April 2009
If the rent was paid in advacne the rate applicable on the date of the advacne would have to be reckoned as the services to be provided in future are also liable.
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Long Term Service award taxability in hands of company
- Free lancer income
- LTCG for Assmt year 26-27
- REGARDING GST LIABILITY/....
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
