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doubt regarding service tax rate.....

shashank (student) (170 Points)

06 October 2009

Hi friends.....

i hav a doubt regarding rate of service tax in the coming PCC exams......

is the rate would be 12% or 10%?????

Also if the rate is 10% then while calculating service tax question we have to first calculate tax till 23 feb taking 12% and there after as 10%( 4m 24 feb applicable)??

Plz help me as early as possible...

thanks in advance

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9 Replies

(Guest)

10.2%

(Guest)

In june they were taking 12%

but for nov 10%

Its better to check RTP for Nov

shashank (student) (170 Points)
Replied 07 October 2009

i have checked the recent RTP, their's no practical question of service tax

Max Payne (employed) (2569 Points)
Replied 07 October 2009

Dear shashank, this amendmend in rate was w.e.f 24.02.2009. It is applicable for the exams though it has not found mention in the RTP.

I sent a mail to ICAI and they have not got back to me on this matter. You also write to guidance @ icai.org, and bos @ icai.org

NOTIFICATION BELOW:

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, IN PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(Department of Revenue)

New Delhi, dated the 24^th February, 2009

Notification No. 8 /2009 – Service Tax

G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts all the taxable services specified in sub-section 105 of section 65 of the Finance Act from so much of service tax leviable there on under section 66 of the Finance Act, as is in excess of the rate of ten per cent of the value of taxable services.

(Unmesh Sharad Wagh)

Under Secretary to the Government of India

[F. No. 354/210/2008-TRU(part)]