FOR INDIA'S BEST CA CS CMA VIDEO CLASSES CALL 9980100288 OR VISIT HERE
Take This Quiz & Predict Your Score in the coming CA CS or CMA Exam!
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

Changes in Service Tax Rate From June

Changes in Service Tax Rate From June


gandhis_tax

We know that there are the changes made in the Service Tax Rate after the Finance bill has been passed by both the houses of  parliament and sanctioned by The President Of India.

In this article we will consider as to what rate is to be applied for Service Tax for particular instances after the changes in the rate made as on 1st June, 2015.

Changes in Service Tax Rate From June

There is a clarity about the rate to be applied but how ? Lets see how to deal with these situations :

Scenario 1 : If Service is completed before 1st June 2015 ;

Old Rate Applicable : If the payment has been made or invoice has been raised for the services provided before 1st June

New Rate Applicable : If the payment and invoice is on or after 1st June

Scenario 2 : If Service is completed after 1st June 2015 ; 

Old Rate Applicable : If the payment has been made or invoice has been raised for the services after 1st June

New Rate Applicable : If the payment and invoice is made before 1st June

Following points will provide a better clarity about the scenarios :

  • If the service Provision is complete till 31.05.2015 and Invoice has been raised till 31.05.2015 but the Payment has been received on or after 01.06.2015­ the rate applicable will be the old rate i.e. 12.36%
  • If the service has been completed till 31.05.2015 and Invoice has been raised on or after 01.06.2015 but Payment has been received till 31.05.2015 ­the rate applicable will be the old rate i.e. 12.36%
  • If the service Provision has been complete till 31.05.2015 and Invoice has been raised on or after 01.06.2015 and the payment has also been received after 01.06.2015­ the rate applicable will be the new rate i.e. 14%
  • If the invoice raised till 31.05.2015 in advance and some part of total consideration has been paid till 31.05.2015 but Service Provision is being done on or after 01.06.2015 the rate applicable will be the old rate i.e. ­12.36% for such part payment, and the new rate i.e  14% for balance to be received
  • If the entire consideration has been received till 31.05.2015 but no invoice has been raised till 31.05.2015 and no service has been provided the rate applicable will be the new rate i.e. ­14%
  • Even if the entire service has been provided on or after 01.06.2015 but both payment as well as invoicing has been done till 31.05.2015 then ­the rate applicable will be the old rate i.e. 12.36%

 Changes in Service Tax Rate From June

cakartYou can buy updated books on service tax from www.cakart.in

Leave a comment

Your email address will not be published. Required fields are marked *