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Rate change

vishak (accounts) (488 Points)

12 October 2015

one of my Clint issue service bill on 30-05-2015 but service tax received on 05-06-2015 .which rate will be applicable ? 12.36 or 14%

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4 Replies

Karthik.V.Kulkarni (Chartered Accountant) (594 Points)
Replied 12 October 2015

If service is complete before date of change and invoice is issued before date of change then point of tax will be date of invoice i.e the rate on date of invoice.

vishak (accounts) (488 Points)
Replied 13 October 2015

Sir this case payment received before rate change and bill issued after rate change

AJAY KUMAR (C.A) (25 Points)
Replied 13 October 2015

Payment received is doesn't matter if invoice generate before rate change and service complete before rate change than service tax rate is 12.36% and invoice generate after rate change or service complete after rate change than service tax rate is 14% Ajay Kumar

vishak (accounts) (488 Points)
Replied 13 October 2015

Sir there ledger shown in may income. But they raise bill in june3 and payment made June 3 . and also collect 14% servicetax . they made payment on service tax June 5. So in the base of ledger this is the income of may. But in billwise and payment wise this is June income. It shown in may the cess was not paid that is the problem ?