shashank (student) (170 Points)
06 October 2009Hi friends.....
i hav a doubt regarding rate of service tax in the coming PCC exams......
is the rate would be 12% or 10%?????
Also if the rate is 10% then while calculating service tax question we have to first calculate tax till 23 feb taking 12% and there after as 10%( 4m 24 feb applicable)??
Plz help me as early as possible...
thanks in advance
shashank
(student)
(170 Points)
Replied 07 October 2009
i have checked the recent RTP, their's no practical question of service tax
Max Payne
(employed)
(2574 Points)
Replied 07 October 2009
Dear shashank, this amendmend in rate was w.e.f 24.02.2009. It is applicable for the exams though it has not found mention in the RTP.
I sent a mail to ICAI and they have not got back to me on this matter. You also write to guidance @ icai.org, and bos @ icai.org
NOTIFICATION BELOW:
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, IN PART II, SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
New Delhi, dated the 24th February, 2009
Notification No. 8 /2009 – Service Tax
G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts all the taxable services specified in sub-section 105 of section 65 of the Finance Act from so much of service tax leviable there on under section 66 of the Finance Act, as is in excess of the rate of ten per cent of the value of taxable services.
(Unmesh Sharad Wagh)
Under Secretary to the Government of India
[F. No. 354/210/2008-TRU(part)]
Jatin Singh Negi
(Country Analyst )
(505 Points)
Replied 12 October 2009
CA Trinath Galla
(student)
(3130 Points)
Replied 13 October 2009
firstly we should check whether any dates are mentioned in the question.
if it relates to a date before the ammendment, we should apply 12.36%
and if it is after 24 feb2009, its 10.3%.
shashank
(student)
(170 Points)
Replied 13 October 2009
as per the RTP of IPCC the rate is 10.3%.(Check question no 23)
CA Trinath Galla
(student)
(3130 Points)
Replied 13 October 2009
Ammenments come into force after taking into consideration the dates and not attempts.
it is an ammendment in the P.Y 2008-9 on which we will b equestioned generally for this NOV attempt
Ketan
(Ass. Finance Manager)
(92 Points)
Replied 14 December 2009
Dear All
Please let me know as i am registerd under Business Auxilory services..
if some of the partries are not paying me ST on the same, in such may i have to pay the ST to the Govnt Department????????
CAclubindia
