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Rate for service tax

Deepak Soni (Article) (27 Points)

18 January 2010

What would be applicable service tax rate for services on 31 January 2009?

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8 Replies

ankita (CA) (51 Points)
Replied 18 January 2010

12.36%

Deepak Soni (Article) (27 Points)
Replied 21 January 2010

Mr. Ajay, a proprietress of Royal Security Agency received Rs.1,00,000 by an account payee cheque, as advance while signing a contract from providing taxable service; he receive Rs.5,00,000 by credit card while providing the service and another Rs.5,00,000 by a pay order after completion of service on January 31, 2009 All three transactions took place during financial year 2008-09.What would be amout of service tax?

Pragnesh (AM - Taxation) (1259 Points)
Replied 28 January 2010

Service tax will be 12.36%.

PRATIK P MEHTA (Final Student,articles) (125 Points)
Replied 28 January 2010

Service tax will be 12.36% Pragnesh is right..

Deepak Soni (Article) (27 Points)
Replied 29 January 2010

Originally posted by : PRATIK P MEHTA
	Service tax will be 12.36% Pragnesh is right..

Dear i want service tax amount.

C.Balaji (Learner) (1867 Points)
Replied 30 January 2010

Dear Deepak Soni

The annual threshold limit of service tax exemption for small service providers has been increased from Rs.8 lakh to Rs.10 lakh with effect from 1/4/2008.

Therefore upto 10 lakhs no service tax....

NOTIFICATION NO 8/2009-ST: Dated : February 24, 2009: The rate of service tax shall not be 12% but it shall be 10% and it shall be increased by education cess. Therefore the effective rate shall be 10.3% and not 12.36%... in your case 12.36%

C.Balaji (Learner) (1867 Points)
Replied 30 January 2010

Dear Deepak soni

Notification Nos. 9/2008 ST and 10/2008 ST, both dated 1/3/2008: Consequent upon the increase in the threshold exemption limit from Rs.8 lakh to Rs.10 lakh, the annual turnover limit for obtaining service tax registration has also been increased from Rs.7 lakh to Rs.9 lakh with effect from 1/4/2008.