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Rate of service tax
flat rate of 14%, no other cess applicable here. this rate inclusive of all cess
The subsumed rate of ST @ 14% is effective from 01-06-2015. There is no cess to be charged from the date notified. Please refer the table below which provides clarity in applying the revised rate based on Rule 4 of Point of Taxation Rules, 2011.
Case1: When service is rendered before the change in rate:
|
Before rate change |
After rate change |
Rate to be applied as per Rule |
|
Invoice issued (at 12.36%) |
Payment received |
12.36% - (a)(ii) |
|
Payment received (at 12.36%) |
Invoice issued |
12.36% (a)(iii) |
|
|
Invoice issued, Payment received |
14% (a)(i) |
Case 2: When service is rendered after change in rate
|
Before rate change |
After rate change |
Rate to be applied as per Rule |
|
Invoice issued (at 12.36%) |
Payment received |
14% - (b)(i) |
|
Payment received (at 12.36%) |
Invoice issued |
14% (b)(iii) |
|
Invoice issued, Payment received |
|
12.36% (b)(ii) |
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