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Service tax-plz help ,urgent

CA Final 553 views 1 replies

hi.can anyone plz tell me hw to claculate service tax,the rates,and hw to take input credit applicable for A.Y 2012-2013.plzzzzzzz if anyone cud help ,i need it urgently.

Replies (1)

 

U did not mention specific services and exact datail which u want.

I am mention some point regarding service tax if u require further information please feel to free.

  • At present, the effective rate of Service Tax is 12.36% on the value of the taxable service. The above effective rate comprises of Service Tax @ 12% payable on the “gross value of taxable service”, Education Cess @ 2% on the service tax amount, and Secondary and Higher Education Cess @ 1% on the service tax amount.
  • The "value of taxable service" means, the gross amount received by the service provider for the taxable service provided or to be provided by him.
  • Under the scheme of CENVAT Credit, the person who is liable to pay service tax on the services provided by him (output service) can set off this liability by claiming credit for the amount of duties and cess he has paid on the goods (input goods as well as capital goods) he used and also the amount of service tax and cess he has paid on the services he used (input services) to provide such taxable services.
Regards
CA Dinesh kumar

 

 


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