Effect on revers tax
This query is : Resolved
anjana arora
(Querist)
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.
Tapas Ruparelia
(Expert)
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!
anjana arora
(Querist)
05 March 2015
thanks Tapas. i want to know what will be the rate after changes in service tax in new budget
Tapas Ruparelia
(Expert)
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%
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
