Rate of taxation
This query is : Resolved
19 April 2012
If the service is completed by 31st March 2012. Is it compulsory to raise the bill on 31 st March 2012 as per the mercantile concept.
I raised the bills for services rendered between 25-31 st March on 3rd April . What should be the rate of tax as per the mercantile concept. Should I raise the bill on 31st March Itself?
I raised the bills for services rendered between 25-31 st March on 3rd April . What should be the rate of tax as per the mercantile concept. Should I raise the bill on 31st March Itself?
19 April 2012
If u raise bill on 3rd April, Service tax is 12.36% and if it is billed on or before 31st march, then it is 10.3%.
19 April 2012
Service tax rate shall be 10.3%if bill is raised on or before 31st march rate shall be 12.36% if bill raised on or after 01April 2012.
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