Clarification regarding rate of tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 May 2012
if invoice was raised before 01/04/2012 & the payment is received after 31/03/2012 @10.3% service tax then do i have to collect additional 2% from the client?
12 May 2012
Generally no need to collect additional 2%. But in case of the 8 specified services the point of taxation is the date of payment. Thus in such cases if the payment is received on or after 1st April 2012, the service tax needs to be paid @12% meaning thereby 2% additional has to be collected.
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 May 2012
Thank you Sir.
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
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- Treatment of Pension ?annuity returns on PMVY
- GST ON DAMAGED GOODS
- Long Term Service award taxability in hands of company
- Loan by Partnership Firm
- REGARDING GST LIABILITY/....
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- 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
