Deeps (Article Assisstant) (2485 Points)
20 October 2009If a person who has rendered services for AY 09-10 raises bill on 8th April 2009. Then should the Service tax be calculated at 12.36% from 1st April 2008 to 23rd Feb. 2009 and 10.3% from 24th Feb. 2009 to 31st March 2009 or 10.3% for the whole year.
Thanks in advance
Gautam Joshi
(Partner)
(361 Points)
Replied 20 October 2009
Hi Deepika,
I think you need to revise your question. There's some confusion.
Deeps
(Article Assisstant)
(2485 Points)
Replied 20 October 2009
In what way should i revise the question? Pl. tell
Jyoti Malik
(ACCOUNTANT)
(2644 Points)
Replied 21 October 2009
| Originally posted by :Deepika.R. | ||
| " |
If a person who has rendered services for AY 09-10 raises bill on 8th April 2009. Then should the Service tax be calculated at 12.36% from 1st April 2008 to 23rd Feb. 2009 and 10.3% from 24th Feb. 2009 to 31st March 2009 or 10.3% for the whole year. Hi Deepika As per your query you mean to say that for whole Financial Year the person raise the bill on 08.04.2009. As per Service tax rules the invoice should be raise with in 14days from the day of services rendered. In my opinion the invoice should be raised for 01.04.2008 to 23.02.2009 @ 12.36% and for the balance period it should be @ 10.3% |
"
|
Jyoti is right.............12.36 till 23rd feb and after that (from 24feb)10.3.
if you can segregate services of that then period you have to calculate service wise and not by date wise. for example if total services rendered are 10 lacs and if all the services renedered were before 23rd feb then you have to charge 12.36 on total. but if 6 lacs were till 23rd feb and lacs were after that then 12.36 on 6 lacs and on 4 lacs 10.3.
| Originally posted by :I'm The Best | ||
| " | Jyoti is right.............12.36 till 23rd feb and after that (from 24feb)10.3. if you can segregate services of that then period you have to calculate service wise and not by date wise. for example if total services rendered are 10 lacs and if all the services renedered were before 23rd feb then you have to charge 12.36 on total. but if 6 lacs were till 23rd feb and lacs were after that then 12.36 on 6 lacs and on 4 lacs 10.3. |
" |
ya i agree
Kamal Deep singh
(Project Engineer)
(22 Points)
Replied 29 October 2009
Can somebody suggest me @ service tax that I want to know for construction work of factory in labour rate except shuttering work which is through rate.
I want to know that how much service tax to be charged on bill.
My total asumed project will cost near @ Rs: 75 lac
CA PRAMOD SARAOGI
(Chartered Accountant)
(1113 Points)
Replied 30 October 2009
|
Case |
Rate prevailing at the time of provision of service |
Rate prevailing at the time of Billing/Invoicing |
Rate prevailing at the time Realization of the consideration |
Applicable rate of service tax |
|
I |
12% |
12% |
10% |
12% |
|
II |
12% |
10% |
10% |
12% |
|
III |
10% |
10% |
10% |
10% |
|
IV |
10% |
12% |
10% |
12% |
|
V |
10% |
10% |
12% |
12% |
CA PRAMOD SARAOGI
(Chartered Accountant)
(1113 Points)
Replied 30 October 2009
|
Case |
Rate prevailing at the time of provision of service |
Rate prevailing at the time of Billing/Invoicing |
Rate prevailing at the time Realization of the consideration |
Applicable rate of service tax |
|
I |
12% |
12% |
10% |
12% |
|
II |
12% |
10% |
10% |
12% |
|
III |
10% |
10% |
10% |
10% |
|
IV |
10% |
12% |
10% |
12% |
|
V |
10% |
10% |
12% |
12% |
Satish
(CA Final Student)
(479 Points)
Replied 01 November 2009
I do not agree with CA Pramod Saraogi in case IV & V. In all the cases, the applicable rate of Service tax would be the rate prevailing at the time of provision of Service (Performance of Service). Billing is the next step where there may be some different rate and receipt is the further next step where again some different rate may prevail. But in substance, the rate prevailing at the time of providing service is always applicable.
Dharam Prakash Singh
(Accountant)
(90 Points)
Replied 02 December 2009
What ST Rates will be applicable for an Architactural Firm, Please Help us.
kavitha
(SAO)
(56 Points)
Replied 03 December 2009
Alternate rates also provided in some cases like specified immovable property, life insurnce, airtravel agents. but for architactural firm basic rate of 10% is applicable
Anandababu
(Accounts Executive)
(21 Points)
Replied 09 February 2012
Hai frnd,
Can anybody provide the Service tax rate yearwise for both regular & composition scheme from 2005-06 onwards pls
CAclubindia
