Suppose i have provided a service at 10% but when i received the consideration,the rate changed to 12%
So,which rate should be applicable?
Also,if i receive an advance consideration,and pay tax on it,then at the time of providing service,the rate changes,what will be its implications.
Mr Arka Bose
You need to apply the Service Tax Rate applicable at the time of providing Service as per Sec 66. The payment of service tax is deferred to the period of receipt of consideration.
Regards
Chandra Sekhar P
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