Service Tax applicable on Professional Fee

This query is : Resolved 

15 May 2009

Sir ,

Please advise revised service tax rates applicable on professional fees for year 1/4/2009 to 31/3/2010



annapurna (Expert)
15 May 2009

The rate of service tax is same for all kinds of taxable services. The rate os service tax from the year 09-10 will be 10.30% consisting of
Basic rate- 10%
Education cess-2% (2% on 10%)
SHE -1% (1% on 10%)

Nimish Parsana (Expert)
15 May 2009

Nimish Parsana (Expert)
15 May 2009

Hello Sandip,

Yes, revised Service Tax rates (i.e., 10.30%) are applicable on professional fees for financial year 2009-10.

There is only chance of changes in this after the election when final budget will be passed.

for Current rate of Service Tax Please follow the below given example..:

Bill Amount................: Rs. 5,000/=

Service Tax (@10%)...: Rs. 500/=
Edu. Cess(@2%on ST)..: Rs. 10/=
H.Edu. Cess(@1%on ST): Rs. 5/=
Total......................: Rs. 5,515/=

CA Suresh Choudhary (Expert)
15 May 2009

agree with expert

Deepak Goel (Expert)
15 May 2009

I am also agree with expert

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