Actually i have two queries regarding Service tax amendments
1) I am having refund for May 2015 so whether i can carry forward the same while calculating service tax for June 2015 as the rate has been amended from 12.36% to 14% And whether i can adjust the service tax portion only or even the education cess can be taken as refund while making calcualtion for june 2015.
2) In case of reverse mechanism what is the abatement portion and what is the rate i.e
in case of Transportation bill earlier i used to charge on 25% of bill amount at 12.36% so now whether it has got change to 30% taxable at 14% rate
in case of works contract on 40% portion i used to charge the service tax through reverse mechanism that is 40% portion *100/112.36 so whether after the change it is the same or even it has got changed
Please guide for the same
CAclubindia
