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Service Tax...???

CA Trinath Galla (student) (3130 Points)

04 June 2009

Recently the service tax rate has been reduced to 10%.

Any one please mention from which date that was applicable?

and for the upcoming examination in june, which rate has to be adopted for solving the problems?

should date be taken into consideration? I mean if the problem is given mentioning that the services are rendered opn a date before the date on which the reduced rate became applicable, should we take 12.36%?

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8 Replies

CA Alok Modak (CA in Practice) (595 Points)
Replied 04 June 2009

applicable from 1/04/2009

CA Trinath Galla (student) (3130 Points)
Replied 04 June 2009

Originally posted by :_KzN_
"	applicable from 1/04/2009	"

thank you!

but my further question?

for june-2009 or november 2009, the questions may be asked for a date before 1/04/2009, so for those, we should apply the earlier rate only?

am i right?

Deepak.R (CA - PCC Student / Articled assistant) (177 Points)
Replied 04 June 2009

Hi trinath..

10.3 PERCENT Service tax is w.e.f 24th february 2009 and not 1st april 09.. but i dunno its applicability for the exams..

CA Trinath Galla (student) (3130 Points)
Replied 04 June 2009

ya, thank you deepak

actually am in ambiguity of both dates

ny how, thanks

Tharish V (Student) (988 Points)
Replied 04 June 2009

ya ita from 24.02.2009, the date when it was passed in the parliament.. so it will be applicable for the coming november exams.. as all the amendments made prior to 6 months of the exam will be applicable for that exam... THINK SO..

CA Trinath Galla (student) (3130 Points)
Replied 04 June 2009

ya, it is sure that it will be applicable for november exams

but my question is????

pls read it clearly

if question is like this....a service provider has rendered services on 25/01/2009 for Rs.50000

the amount of service tax in following cases

i) if consideration is received on 30/01/09

ii) if consideration is received on 03/03/2009 (after ammendment)

Tharish V (Student) (988 Points)
Replied 04 June 2009

service is taxable at the time of rendering of service... so in your case ST rate will be 12 % as the service rendered is before the amendment date...