Scribd Logo
Carica

Benvenuto in Scribd!

  • Concept Note - Rate Change

    Caricato da

    inaayats
    3 visualizzazioni2 pagine
    Service Tax Rate has increased from 10.3% to 12.36% with effect from April 1, 2012 the correct rate for charging tax would depend upon the Point of Taxation Rules, 2012. Service tax is not chargeable where payment is received before the service becomes taxable and Private and Confidential invoice is issued within a period of 14 days.

    Descrizione originale:

    Titolo originale

    Concept Note_Rate Change

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Formati disponibili

    PDF, TXT o leggi online da Scribd

    Hai trovato utile questo documento?

    Questo contenuto è inappropriato?

    Segnala questo documento
    Service Tax Rate has increased from 10.3% to 12.36% with effect from April 1, 2012 the correct rate for charging tax would depend upon the Point of Taxation Rules, 2012. Service tax is not chargeable where payment is received before the service becomes taxable and Private and Confidential invoice is issued within a period of 14 days.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Scarica in formato PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    3 visualizzazioni2 pagine

    Concept Note - Rate Change

    Caricato da

    inaayats
    Service Tax Rate has increased from 10.3% to 12.36% with effect from April 1, 2012 the correct rate for charging tax would depend upon the Point of Taxation Rules, 2012. Service tax is not chargeable where payment is received before the service becomes taxable and Private and Confidential invoice is issued within a period of 14 days.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Scarica in formato PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    di 2

    SERVICETAXAMENDMENTS UNIONBUDGET2012

    A. SERVICETAXRATECHANGE

    ServiceTaxRatehasincreasedfrom10.3%to12.36%witheffect fromApril1,2012 ThecorrectrateforchargingtaxwoulddependuponthePointof TaxationRules,2012 Thebasisforapplyingservicetaxwoulddependuponservice completion,dateofissueofinvoiceandthedateofpayment Dateofpaymenthasbeendefinedtobetheearlierofthedatesof entryintobooksofaccountsoractualcreditinthebankaccount Whenthereisachangeintheeffectiverateoftaxoranewlevy betweenthesaidtwodates,thedateofpaymentshallbethedate ofactualcreditinthebankaccount,iftheamountiscredited throughabankinginstrumentmorethanfourworkingdaysafter thedateofsuchchange. Adhocpaymentsmadeincontinuoussupplyofworktobe consideredasindependentassignmentsforPointofTaxation Incaseofanewservice,servicetaxisnotchargeablewhere paymentisreceivedbeforetheservicebecomestaxableand
    Private&Confidential

    1|P a g e

    invoiceisissuedwithinaperiodof14days(fromthedatethe servicebecomestaxable)

    B. ServiceTaxRateunderDifferentCircumstances

    ServiceCompleted
    Before01stApril2012 Before01stApril2012 Before01stApril2012 Before01stApril2012 After01stApril2012 After01stApril2012 After01stApril2012

    Invoiceissued

    Payment

    TaxRate
    10.30% 10.30% 12.36% 10.30% 12.36% 10.30% 12.36% 12.36% 10.30%

    SERVICESRENDERED Before01stApril2012 Anytime st After01 April2012 Uptill05thApril2012* st After01 April2012 After05thApril2012 After01stApril2012 Before01stApril2012 Before01stApril2012 After01stApril2012 st Before01 April2012 Before01stApril2012 After01stMarch2012 Before01stApril2012 SERVICESIMPORTED Before01stApril2012 Before01stApril2012 After01stApril2012 st st After01 April2012 After01 March2012 Before01stApril2012 *Ifthepaymentiscreditedinthebooksofaccountsbefore31stMarch2012

    2|P a g e

    Private&Confidential

    Potrebbero piacerti anche