Go AD-Free with CAclubindia PRO for Rs 167/Month Only. Subscribe Now!

Service tax change in rate

rates 520 views 1 replies

Krutika Khedkar

Chartered Accountant

77 Points Joined November 2014

We have raised invoices of ALF in which service tax has been charged @ 12.36%. Total amount is around 15 lakhs. No payment received yet. That means we'll hav to pay service tax to Govt @ 14%, which will be a huge loss for the company.

Can we revise all the invoices raised before 1st June to after 1st June?

Replies (1)

CMA Poornima Madhava

CMA

13117 Points Joined May 2009

Actually in this case, st is payable at the rate at which invoice is raised provided the provision of service is done before 1st June, even though payment is received later. So if invoice is raised n service is also provided before June 1st, st will be 12.36%.