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New Notification Effect

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This query is : Resolved

Rajat (Querist)
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25 February 2009 Dear All,

As I understand that new S.Tax rates are applicable from 24/2/2009.

My Q's is what is the status of advance payment collected before the new notification ?

Since the payment is collected as advance against the bill to be raised in the month of March'09.

Jitender

Jitender (Expert)
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25 February 2009 if the services are going to be provided aftter 24/2/09 then service tax will be payable@10% on advance payments.

Rajat

Rajat (Querist)
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25 February 2009 Thanks for your reply. Now in continuation to the same..against the advance payment recd (incld S.T.)I have already deposited the S.T. part in the govt kitty and the bill will be raised in the month of March as mentiond earler.

Now my Q's is.. the bill will be raised at 10% whereas we have collected & deposited ST. at 12.36% what do i do about the difference. Do i have to claim the excess S.T from the department or let the bill be raised in March'08 at 12.36% ?

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