Service Tax applicable on Professional Fee
This query is : Resolved
Sandeep Rohatgi
(Querist)
15 May 2009
Sir ,
Please advise revised service tax rates applicable on professional fees for year 1/4/2009 to 31/3/2010
regards
Sandeep
Please advise revised service tax rates applicable on professional fees for year 1/4/2009 to 31/3/2010
regards
Sandeep
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%)
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/=
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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