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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 May 2012
Dear Experts,
I am a proprietor.I have receivables for 2011-12 when service tax was @ 10%.The dues will clear this year.
Please let me know if being a proprietor I have to pay the service tax on due basis or receipt basis.
If it is payable on receipt basis should the rate of service tax be 12% as the receipt is after 1st April 2012 or at the original rate of 10%.
Regards,
I am a proprietor.I have receivables for 2011-12 when service tax was @ 10%.The dues will clear this year.
Please let me know if being a proprietor I have to pay the service tax on due basis or receipt basis.
If it is payable on receipt basis should the rate of service tax be 12% as the receipt is after 1st April 2012 or at the original rate of 10%.
Regards,
28 May 2012
Please follow the following link. It will be helpful for you.
https://www.caclubindia.com/articles/determination-of-date-of-which-rate-of-service-tax-to-be-taken-13477.asp
If you tell us the nature of services then you can get exact answer.
https://www.caclubindia.com/articles/determination-of-date-of-which-rate-of-service-tax-to-be-taken-13477.asp
If you tell us the nature of services then you can get exact answer.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
29 May 2012
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29 May 2012
Conclusion drawn in rule 4 of POT Rules, 2011 in aforesaid article is applicable in your case. In your cases services has been rendered up to 31.03.2012, however either payment received or invoice issued or both things has taken place after 31.03.2012. Accordingly you have to follow the conclusion drawn in first table of rule 4 in the aforesaid article.
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