Tax rate applicable 14 % or 14.28% from 1 june 2015
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 June 2015
what will be new rate
14 % only
or
14 %
00.28%
------
14.28%
please declared new rate
what will be new rate
14 % only
or
14 %
00.28%
------
14.28%
please declared new rate
02 June 2015
Revised Service Tax Rate of 14% will be applicable from 01.06.2015. There is no breakup of 14%. Swachh Bharat Cess of 2% not applicable as of now. 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
https://www.caclubindia.com/forum/files/555789_20150519211107_notification.pdf
https://www.caclubindia.com/forum/files/555789_20150519213343_tru_letter.pdf
02 June 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.
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