Service tax

Hi..

It will appilcable from financial year 2012-13 (i.e., April 1st 2012). 

 

Best Regards,

Karthikeya...

Hi I m Suraj, working as accounts exec. My organisation has started new vertical of manpower supply busines. I have query in relation to the payment date of service tax which we will charge from our clients on the services provided for the month of march. As we have to raise invoice on the basis of attendance of our perssonel, we caanot raise invoice bfore first working day of consecutive month i.e., april. But according to service tax rule6 sub-rule(1),"Provided also that the service tax on the value of taxable services received during the month of March, or the quarter ending in March, as the case may be, shall be paid to the credit of the Central Government by the 31st day of March of the calendar year.]9" Please advise, should we pay service tax on 31st march and what would be accounting treatment

@ suraj.. You have interpreted d clause n rules correctly. What u can do is deposit a lumpsum in ur PLA on an estimated calculation.. N later on while filing of return, adjust the money excess so paid..

Can anyone can forward me service tax rates from 2002.

Pratul,

 Could you  pls explain me the funda of PLA? Is money deposited into the PLA by opening a PLA a/c with bank?

 

At present, the rate of Service Tax is 10%, payable on the "gross value of taxable service". In addition to this, Education Cess is payable at the rate of 3% on the Service Tax amount. (2% P.EC & 1% H.EC). The rate of tax may change during Annual Budget by a Finance Act.

History of rates:

Sl. No.	Period	Rate of Tax	Rate of Education Cess
1.	1994 to 13.05.2003	5%	Nil
2.	14.05.2003 to 09.09.2004	8%	Nil
3.	10.09.2004 to 17.04.2006	10%	2% of the S.T.
4.	18.04.2006 to 10.05.2007	12%	2% of the S.T.
5.	11.05.2007 to 24.02.2009	12%	2% of S.T. + 1% of the S.T. (Secondary & Higher Education Cess)
6.	25.02.2009 to till date	10%	2% of S.T. + 1% of the S.T. (Secondary & Higher Education Cess)

 

Dear Sir,

What is the rule of Full & Final , How many days calculate if company fired you from job.

 

 

@ vimal     - from the date of salary due to the last working day  by the person for the org.....

Is revised Service Tax apllicable in May 2012 exams??

Is there education cess applicable for service tax for the FY 2012-13?

 

Regards

Joseph 

Rate of service tax from 01.04.2012 is 12%

2% Education cess & 1% HEC  is payable on service tax.

Total  12.36%

Yes, the revised tax rate is applicable for May 2012 attempt for CA Final students

Revised Service tax rate is applicable only for Final students not for IPCC students.