Rate
This query is : Resolved
Deepesh Kumar Sharma
(Querist)
12 October 2012
Whether there is 1% rate in any case
MOHAMMAD SALIM
(Expert)
12 October 2012
No 1% service tax is not there even in cases of partial reverse charge. However in case of finance income included in lease rentals the service tax is applicable on 10% of such finance income , accordingly effective tax rate on finance income is 1.23%.
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