Net service tax on intellectual property service

PLEASE INTIMATE THE EFFECTIVE RATE OF SERVICE TAX ON INTELLECTUAL PROPERTY SERVICE (IMPORT OF TECHNOLOGY) AFTER DEDUCTING R&D CESS i. e. WHETHER IT WILL BE 12.36%-5% R&D CESS = 7.36% OR 12%-5%=7%+. 21%(CESS)=7.21%. AN EARLY REPLY IS REQUESTED. THANK YOU SIR.