we had recieved service under reverse charge in june 15 for the work contract,we havent deposited the service tax till yet,my question is what is the applicable rate of service tax 14% or 15%
CA Harshal Totla
(Chartered Accountant)
(2229 Points)
Replied 23 June 2016
CA Sujeet Kumar
(Self-Practice)
(738 Points)
Replied 23 June 2016
Originally posted by : rahul
"we had recieved service under reverse charge in june 15 for the work contract,we havent deposited the service tax till yet,my question is what is the applicable rate of service tax 14% or 15% "
Rate would be 15 %
EKALABYA TALUKDAR
(SERVICE TAX CONSULTANT)
(666 Points)
Replied 24 June 2016
Basic Service Tax 14% + Saccha Bharat Cess 0.5% + Kisan Kalyan Cess 0.5%
(From 01.06.2016)
Calculation should be done on the Service Charge, That means 15% on Service Charge.
rahul
(student)
(90 Points)
Replied 27 June 2016
we have made payment on july 15 and as per rule 7 pot rule 2011 read with 67 A service tax 1994,rate will be 14% as per my own understanding, please clarify me,after reading both,Rule and section,because act has overiding effect on rule, for ur reference Section 67A
67A. (1) The rate of service tax, value of a taxable service and rate of exchange, if any, shall be the rate of service tax or value of a taxable service or rate of exchange, as the case may be, in force or as applicable at the time when the taxable service has been provided or agreed to be provided.
(2) The time or the point in time with respect to the rate of service tax shall be such as may be prescribed.
rahul
(student)
(90 Points)
Replied 27 June 2016
as the services had been provided in june 15 and payment is made in july15.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
CAclubindia
