What is the Rate of Service Tax applicable for IPCC NOV 12 Exams? Is it 12.36% as amended by Finance Act,2012 or 10.36%. Also in Institutes student news letter it is mentioned that the following are not applicable for IPCC NOV 12 Exams:
(i) ALL the taxable services (including the eight (8) services notified earlier by the BOS
through its announcement dated 14.09.2011) will not be relevant for November 2012
exams.
(ii) Unit 2 of Chapter 2 : Taxable Services of Part II: Service tax and VAT of Study Material and
Practice Manual for Paper 4: Taxation will NOT be relevant for November, 2012
examinations.
However, it may be noted that all other chapters of the Study Material
and Practice Manual are relevant for November 2012 examination.
(iii) Negative list of services and other amendments made vide the Finance Act, 2012 are not
relevant for Nov 2012 exams.
(iv) Marks distribution between the two parts namely, Part I : Income Tax (50 marks) and Part
II: Service Tax and VAT (25 for Service Tax and 25 for VAT) has not changed.
I want to know whether in VAT topics as mentioned above is also applicable or not? Also what are the slab rates of Income Tax is it same of AY 2012-13?
CAclubindia
