New service tax ammendment.
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 August 2012
As per new service tax rule w.e.from July 2012 Service tax applicable on services are to be paid by service provider and the principle company( service taker) as per classification of services. Now how the service provider will issue a service tax bill, whether the percentage what he is actually paying or full service tax in his bill(for example 12.36%) and what is the responsibility of the Company.
CA Suresh Jain
(Expert)
15 August 2012
Service provider should charge and raise the bill only for service tax payable by him.
The service tax portion payable by the recipient as per reverse charge mechanism shall be liability of the Company
The service tax portion payable by the recipient as per reverse charge mechanism shall be liability of the Company
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