Rate of service tax @14% or 14.5%

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Aditya (Querist)
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31 December 2015 Sir, If I hv recd the amount in December but the invoice was raised on 1st nov or on 1st oct so what rate wud be applicable in such a case ?? 14 or 14.5 % ?? Also if the service is provided on a continuous basis for eg renting of immovable property then what would b the rate ??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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31 December 2015 For 1st Nov and 1st Oct invoice only 14% service tax applicable.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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31 December 2015 Budget 2015 has increased service tax rate from 12.36% to 14%. The basic rate of service tax is now 14% and no education cess will be levied to it.

However, swachh Bharat cess – 0.5% has been levied from 15th Nov, 2015. So effective rate will be 14.5%.

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