05 November 2009
If the payment for bill raised in Nov.08 was received in March'09 and it was dishonored and I received the cheque again in April'09. Service tax has also been received @12.36% then I would be paying the same to Govt. at the same rate or I would be liable to refund the excess amount to the party? How should I account for it?
05 November 2009
Service tax was Reduced from 12% to 10% by NOTIFICATION NO. 8/2009-ST Dated: February 24, 2009 any service rendered before this date would attract 12.36% tax.
CAclubindia
