01 May 2012
in case of GTA (i.e.transport of goods by road, receipient is paying service tax. now bills relating to jan and feb transports, we are paying in Apr 12. at what rate , we have to pay service tax i.e 10 or 12
01 May 2012
GTA: You got to pay ST at old rates plus interest on ST collected for delay in deposit.
Receipient's perspective: Service was availed in the FY 2011-12 and bills are ideally received with in a week. So you just need to release the payment.
01 May 2012
sir my query is whether we have to pay @ 10% or 12% for service taken and completed in the month of jan or feb 12 but bills are paid in the month of apr, now i have to pay service tax on or before 5th may, what will be the rate
02 May 2012
Dear Expert. I am agreed with your view apparently. I just want to know your basis of taking this view that rate of tax shall be 10%. I dont think this is guided by any Rule
03 May 2012
Nikhil bhai, In the absence of any rule or case for analysis the rationale got to be logical. Tax rate should correspond to the FY to which the transaction pertains to! It's only the payment(s) that is/are delayed.
CAclubindia
