Regarding payment of service tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 December 2012 Hi... friends Plz resolve this problem, If we raised an invoice in fy 2011-12 @10.3% But pay tax on payment basis which is received after april 2012(i.e rate increased to 12.36%), At wat rate we hav to pay service tax..???

CA Rutvij

CA Rutvij (Expert)
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08 December 2012 AS per Rule(4) of POINT OF TAXATION RULES, 2011

There are 3 criterion

1. Date of Invoice
2. Date of payment
3. Date of provision of Service

If any of the above 2 criterion falls before 01.04.2012 then rate 10.3%

However for 8 specified services such CA,CS...etc..POT will be date of payment hence 12.36% Service Tax.