What will be the rate of service tax for making audit fees provision , since from 01st April rate is 12% and we will receive bill of 12% (I think), so should i make provision as 12% ST or current rate i.e. 10% ? I think it should be @ 12%.
2 Replies
CA Ketan Waghela
(Partner at Elite Educare)
(356 Points)
Replied 13 May 2012
Neeraj ji,
Please refer to Circular No. 158/9/ 2012 – STCircular No. 158/9/ 2012 – ST which indirectly suggest to charge service Tax @ 12.36% if invoice is raised on or after 1st Apr, 2012.
Vikas
(CA)
(1135 Points)
Replied 14 May 2012
Mr. Neeraj any bill raised after 1-7-11 and the amount received after 31-3-12 will b charged at the rate of 12.36% for CAs....
the above circular along with the POTR must b referred...
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