05 June 2015
Dear All We have payable service Tax on GTA against Month of May 2015 paid on dtd 06.07.2015 as per previous policy,kindly give us advice which rate is applicable? is it 12.36% or 14% because i little bit confused on latest Notification of S.Tax so,kindly clarify on instant issue ASAP.
To simplify:- Rule 4 of Point of Taxation Rules change in effective rate of Service Tax: There are three events that occur in connection with a service
A. Issue of Invoice B.Payment received C. Provision of Service
If any two out of the three events have occurred on/before 31st May, the old rate of 12.36% shall be applicable.
If any two out of the three events have occurred on/after 1st June, the new rate of 14% shall be applicable.