05 June 2015
Sir if any party makes contract for the rent and in the contract mentioned we are paying the rent plus service tax amount so, suppose may 15 month rent amount plus service tax amount & it will pay on June 15 how much service tax rate will considered for payment 12.36 ya 14%
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.
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