05 June 2012
When we raised invoces in F Y 2011-12. But we have not paid service tax before 31.03.2012. If we pay service tax now, what is tariff of service tax, 10.3% or 12.36%. We have collected service tax 10.3% on invoices. Please clariffy.
05 June 2012
Sir, I think the service tax payable @ 10.30%.
As per ST Law Service tax payment was due at as and when service got completed, but only its payment to government is postponed to at the time of receipt.
06 June 2012
New levy is always effective from date of notification. It is not a retrospective amendment. Therefore in your case the provision of service was completed and payment was recd, you have only deferred the payment. So you pay what you collected along with interest @18%
CAclubindia
