Effect on revers tax
This query is : Resolved
04 March 2015
hi, i would like to know what will be effect on reverse service tax. we pay reverse service tax on the transport facilities which we use for employees.
05 March 2015
You will have to pay service tax under reverse charge by bank. You cannot use cenvat for this purpose. After payment of service tax under reverse charge, you can avail the cenvat of the service tax paid under reverse charge subject to fulfilment of the condition that the service falls under the definition of input service for you.
Trust this clarifies!
Trust this clarifies!
05 March 2015
thanks Tapas. i want to know what will be the rate after changes in service tax in new budget
05 March 2015
Currently - while 12.36% rate is in effect - effective rate for GTA= 3.708
And after the 12.5% is notified - 3.75%
And after the 12.5% is notified - 3.75%
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