Effective rate of duty
This query is : Resolved
Raj Selvamani
(Querist)
10 April 2015
A mftr issued sales invoice @ 12.36% In Aug 2014. In march 2015 raised supplementary invioce @12.36. Duty collect paid with int.
now my question.which rate of duty applicable for supplmtry inv.
10 April 2015
Please refer to the Institute's clarification
https://icai.org/new_post.html?post_id=11476&c_id=219
Clarification- No change in rate of Service Tax
Finance bill, 2015 has proposed to increase effective rate of Service Tax from 12.36% to 14%. It is wrongly reported in some quarters that the effective date of change in rate of Service Tax is 1st April, 2015. It is hereby clarified that the change in the rate of Service Tax will be effective from the date to be notified after enactment of Finance Bill, 2015.
In this regard relevant portion of D.O.F. No.334/5/2015-TRU dated 28th February 2015 is produced below:
“3.3 The Service Tax rate shall come into effect from a date to be notified by the Central Government after the enactment of the Finance Bill, 2015”.
Hence, it is worthwhile to mention that there is no change in the rate of Service Tax w.e.f. 1st April 2015.
https://icai.org/new_post.html?post_id=11476&c_id=219
Clarification- No change in rate of Service Tax
Finance bill, 2015 has proposed to increase effective rate of Service Tax from 12.36% to 14%. It is wrongly reported in some quarters that the effective date of change in rate of Service Tax is 1st April, 2015. It is hereby clarified that the change in the rate of Service Tax will be effective from the date to be notified after enactment of Finance Bill, 2015.
In this regard relevant portion of D.O.F. No.334/5/2015-TRU dated 28th February 2015 is produced below:
“3.3 The Service Tax rate shall come into effect from a date to be notified by the Central Government after the enactment of the Finance Bill, 2015”.
Hence, it is worthwhile to mention that there is no change in the rate of Service Tax w.e.f. 1st April 2015.
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