sachin (accounts officer) (24 Points)
04 April 2012Hi!
Please tell me if invoice dated on 04.04.12 and it is charges service tax @ 12.36%, but the descripttion of invoice says that transaction pertains to the period of March 2012. So the invoice has rightly charged service tax @ 12.36% or it should be charged at 10.3%
Thanks & Warm Regards
Rahul Sharma
(Practicing Chartered Accountant)
(131 Points)
Replied 04 April 2012
Its correct, if invoice is dated 04.04.12, Service tax will be applicable @ 12.36%, even if service pertains to preceding year.
RENGARAJ R.K
(ADVOCATE)
(7557 Points)
Replied 07 June 2012
If the income is shown in the Second Half yearly return as march income, then you need pay only 10.3%. In the point of taxation rules, there are some exemption available for individuals and firms for some specific services. They can pay on receipt base instead of accrual. See the latest notification in this regard. For others if the invoice date is april 12, then service tax is leviable @ 12.36%.
rengaraj .r.k
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