Service tax
This query is : Resolved
Sujoy Banerjee
(Querist)
31 May 2015
pls someone confirm the new service tax rate and whether it is applicable from 1st june or not.
31 May 2015
Revised Service Tax Rate of 14% will be applicable from 01.06.2015.
Refer Notification No 14/2015 Dated 19.05.2015 and department clarification from link given below, which is self explanatory:
https://www.caclubindia.com/forum/files/555789_20150519211107_notification.pdf
https://www.caclubindia.com/forum/files/555789_20150519213343_tru_letter.pdf
Refer Notification No 14/2015 Dated 19.05.2015 and department clarification from link given below, which is self explanatory:
https://www.caclubindia.com/forum/files/555789_20150519211107_notification.pdf
https://www.caclubindia.com/forum/files/555789_20150519213343_tru_letter.pdf
31 May 2015
Switch over to new rates.
To simplify:-
Rule 4 of Point of Taxation Rules change in effective rate of Service Tax:
There are three events that occur in connection with a service
A. Issue of Invoice
B.Payment received
C. Provision of Service
If any two out of the three events have occurred on/before 31st May, the old rate of 12.36% shall be applicable.
If any two out of the three events have occurred on/after 1st June, the new rate of 14% shall be applicable.
To simplify:-
Rule 4 of Point of Taxation Rules change in effective rate of Service Tax:
There are three events that occur in connection with a service
A. Issue of Invoice
B.Payment received
C. Provision of Service
If any two out of the three events have occurred on/before 31st May, the old rate of 12.36% shall be applicable.
If any two out of the three events have occurred on/after 1st June, the new rate of 14% shall be applicable.
CA AnKiT BoHrA (AB)
(Expert)
31 May 2015
It is applicable from first june..new rate is 14%
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- Oct 2025 Invoices
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Capitalgain tax purposes for valuation report compulsory
- TAX AUDIT ON PROFESSIONAL INCOME
- TDS on Fixed Assets purchased
- Under marginal scheme
- Import of Software Service.
- Depreciation Chart Companies Act
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
