What will be the rate of service tax for making audit fees provision , since from 01st April rate is 12% and we will receive bill of 12% (I think), so should i make provision as 12% ST or current rate i.e. 10% ? I think it should be @ 12%.
Rate of st on provision
Replies (2)
Neeraj ji,
Please refer to Circular No. 158/9/ 2012 – STCircular No. 158/9/ 2012 – ST which indirectly suggest to charge service Tax @ 12.36% if invoice is raised on or after 1st Apr, 2012.
Mr. Neeraj any bill raised after 1-7-11 and the amount received after 31-3-12 will b charged at the rate of 12.36% for CAs....
the above circular along with the POTR must b referred...
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