bank has charged penal interest@0.5% for non utilisation of 60%of sanctioned working capital .we have utilizied 38 % in septamber quarter say 60 -38 = 22%under utilisation but bank has charged commitment charges on 100-38 =62% it is unethical .please advice correct method of calculating commitment charges ( as per RBI Guide line). and as commentment charges are part of interest so i think service tax is not applicable on this part please cleaify
sir,
I was service provider for providing my premises on rent and was registered service provider with service tas authority. Now from september 2015 I am no more a service provider with tenant.I had already paid the service tax upto august 2015.
Now my query is :
1. Whether I have to inform the Service Tax Department about this or not If YES than please advice me how to inform the Service Tax Department and what is procedure for the same. and
2. Whether I have to surrender the Service Tax Assessee code back to the department.
A SERVICE PROVIDER IS REGISTERED AND NOW HE IS PROVIDING SERVICES IN DELHI AND NOW HE WANT TO PROVIDE SERVICES IN TWO STATES.SO WHAT FURTHER LEGAL ACTIONS SHOULD BE TAKEN.
A MEDICAL DOCTOR IN PRACTICE EARNING ABOUT RS.50 LAKH P.A. IS APPOINTED AS CONSULTANT BY A MNC ON ITS ADVISORY PANEL ON PROFESSIONAL FEE OF RS. ONE LAKH PER MONTH.
WE ARE SURE OF NON TAXABILITY OF PRACITCE INCOME BUT HAVE DOUBT ABOUT TAXABILITY OF SERVICE TAX ON INCOME BEING RECEIVED FROM MNC AS CONSULTANT IN ADVISORY BOARD OF COMPANY. WILL SUCH ADVISORY SERVICES COVERED UNDER MEGA NOTIFICATION AS AN AUTHORISED MEDICAL PRACTIONER PROVIDING HEALTH CARE SERVICES?
PL. ADVISE US ASAP AND OBLIGE.
is there now a flat rate of 14% on service tax that means we hv not to pay the payment amt in edu cess n higher edu cess code from 01/06/15.only basic st n swach bharat cess to be shown in challan
Sir, If I hv recd the amount in December but the invoice was raised on 1st nov or on 1st oct so what rate wud be applicable in such a case ?? 14 or 14.5 % ?? Also if the service is provided on a continuous basis for eg renting of immovable property then what would b the rate ??
Respected Sir/Madam,
I am requesting to you to please guide me, Is service tax payable by partnership firm under Reverse Charge Maccanisum for RENT A CAB and GTA and Legal service And Manpower service and security services receive by us. please take it at your earliest because we are under service tax audit. and is there and change if service provider is a Company. your are welcomed for all other relevant information in this regard, and please also guide me for care to be taken for service tax audit in detail.
Now I am requesting to you please clear that as per your reply there is no service on which we need to pay tax under Reverse Charge Macanisum (RCM) out of all five services we are receiving by name 1. RENT A CAB 2. GTA 3. Legal service 4.Manpower supply service 5. Security services. And more important query is that currently we have collecting and paying service tax on first three so what precaution we need to take on the matter during audit by service tax dept.
HI,
Here is the doubt of my client regarding service tax rate. My client receive bill issued by party on 8.6.2015 by charging @12.36% , where already levy of 14% has been applied. My client though aware about the same, not corrected invoice and taken credit of service tax @12.36% instead of 14%. so what will the right scenario kindlly let me know......its an urgent!!
GOOD MORNING EXPERTS ,
IF "A" IS HEAD OFFICE AND SITUATED IN DELHI AND "B" IS BRANCH AND SITUATED IN HIMACHAL PRADESH . SIR SUPPOSE HEAD OFFICE "A" RECEIVED ANY SERVICE . SIR MY QUESTION ONLY THAT CAN BRANCH "B" TAKE CENVAT CREDIT ON BEHALF OF HEAD OFFICE"A" .
SOME NOTES ABOUT ABOVE QUERY
1-HEAD OFFICE "A" HAVE NO INPUT SERVICE DISTRIBUTOR REGISTRATION
2-SERVICE BILL IN THE NAMED OF BRANCH "B" ( WHO IS EXCISABLE UNIT)
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Service tax on rent