Tahseen Tabassum (CA-FINAL) (644 Points)
29 April 2009If a company provided the services in the month of Februsry 09 and issued a bill on 09-03-09, what will be the rate of service tax applicable.
And what will be the Service tax rate applicable if the service was provided for the period from 01-02-09 to 24-02-09 and the bill was issued on 03-03-09.
Deepak sharma
(Learner)
(1431 Points)
Replied 29 April 2009
services provided upto 23/02/09 should be charged @ 12.36%
and from 24/02/09 should be charged @ 10.30% ( as per ammendment notification new rate of service tax was effected from 24/02/09 )
Rahul Chobdar
(Chartered Accountant (Financial Management))
(561 Points)
Replied 29 April 2009
HI friend!
@ 10.30% ( as per ammendment notification new rate of service tax was effected from 24/02/09 )
Service Tax is charged on the Payment basis i.e. when the invoice is raised
CA CS Akashdeep Singh
(Practicing CA)
(1394 Points)
Replied 29 April 2009
For levy of rate of service tax, date on which service rendered or provided, matters i.e., rate of service tax should be the rate prevailing on the date of rendering the service irrespect to when payment is made. If service provide for the month of Feb, then, upto 23-02 rate is 12.36% after that 10.30%
VIVEK BARANWAL
(CA.)
(310 Points)
Replied 01 June 2009
PLEASE TELL ME WHAT IS THE SERVICE TAX RATE UNDER WORKS CONTRACT.
IS IT 4.12% OR ANY OTHER DUE TO REDUCTION OF RATES FROM 1236 TO 10.30
Vishal Gill
(C.A.)
(49 Points)
Replied 04 June 2009
I think u r talking abt composition scheme.In work contract if go for composition scheme tax rate is same 4.12%.. if u claim abatment then its 33% of 10.30%. choice is urs.
CAclubindia
