Rate of Service Taxc
This query is : Resolved
CA SONI KRUNAL
(Querist)
06 October 2010
I have a doubt that when in given a service rate of s.tax is 12.36 5 , but when i receive the payment rate of service tax is 10.30% which rate i should consider?
CA Navin Jain
(Expert)
06 October 2010
10.30%
CA SONI KRUNAL
(Querist)
06 October 2010
please provide a section reference
CA SONI KRUNAL
(Querist)
06 October 2010
what will be the situation if i receive the payments in different part , what will be the rate in that case
Yashwanth Jain
(Expert)
06 October 2010
As per Sec 66 of the finance act the taxable event arises when services are provided, hence the rate that is applicable on the date of rendering of service has to be considered for payment of service tax and not the rate when payment is received for the taxable services provided, in your case you need to consider 12.36%(the taxable event rate) and not 10.3%.
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