All changes in relation to service tax take effect from a notified date and not immediately as in case of excise duty.
The notified date being 1st April 2012 in case of changes in relation of service tax . Hence Service Tax Rate will be 12% from 1st april 21012.
And changes in rate of excise duty take effect from midnight of 16th March 2012.
//indiabudget.nic.in/ub2012-13/cen/dojstru2.pdf
See Point No 1 & 5 of Part A of the link
All changes in relation to service tax take effect from a notified date and not immediately as in case of excise duty.
The notified date being 1st April 2012 in case of changes in relation of service tax . Hence Service Tax Rate will be 12% from 1st april 21012.
And changes in rate of excise duty take effect from midnight of 16th March 2012.
//indiabudget.nic.in/ub2012-13/cen/dojstru2.pdf
See Point No 1 & 5 of Part A of the link
service tax applicable with effect from 01.04.2012 ............
Service Tax Rate applicable w.e.f 01.04.2012
Mr.Sriram,
Service tax change is applicable only from 1st April 2012.
The changes will be effective from April 01, 2012
w.e.f, 1st April, 2012......
Excise will be applicable from tomorrow and service tax will be applicable from 01-04-2012
The changes in Service Tax rate is applicable from 1st of April, 2012 the notification has not yet issued right.....
Very interesting info above. Amazing to read.
I am very interested in reading and keep finding something on the internet.
One of the sites I follow regularly is https://smallbusinessindia.intuit.in
Its got diferent categories also, nice to read. They keep posting new blogs and nice topics.
There's a blog on service tax in India- https://smallbusinessindia.intuit.in/money-finance/de-mystifying-service-tax-india/
Let me know if you like it.
Share your thoughts? :)
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Pls find the notification below for change in service tax. It is effective from 01.04.2012 onwards.
NOTIFICATION NO 02/2012 Dated: March 17, 2012 In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 8/2009 – Service Tax, dated the 24th February, 2009, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 120 (E), dated the 24th February, 2009, except as respects things done or omitted to be done before such rescission. 2. This notification shall come into force on the 1st day of April, 2012. [F. No. 334/1/2012-TRU]
(Samar Nanda) |
effective date of service tax from 10.30% to 12.36% is 1.4.2012
Dear Friends!
The proposed service tax would be applicable on all services excluding certain 17 services and will be applicable w.e.f. April 1, 2012.
Question is, what treatment will be given to those sales which contains certain process to make the produce perfect to sale, (Likewise A printing unit sales duly printed paper material after charging VAT thereon @ 5% as `Offset Printing with Paper' ) and even if VAT is already charged by seller?
Will such process be treated as `Service' and attract provisions of service tax act?
Thanks!
M. L. Sharma
Applicability of Service tax rates from 1st April 2012 while Excise from 17th March 2012.
service tax rates are always effective from the date when president gives assent to the finance bill and is notified in official gazzete which may be any date not necessarily april 1.
Dear friends,
The change in the Service tax rate will be effective from 1st April,12 since that is the notified date.
CAclubindia
