Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: due date for vat payment :: cpt :: TDS :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: empanelment :: list of goods taxed at 4%
 
 
News Headlines »
 Filing income tax return to become simpler from next month
 Here's why that big tax refund isn't great news for you
 Filing tax returns to be less painful as government simplifies ITR forms
 Here’s how the new tax provisions will impact you in 2017-18
 Income-tax (3rd Amendment) Rules, 2017
 How you can save tax in the last 2 days of current FY
 6 important income tax rules for individuals which will change from April 1, 2017
 Key changes in income tax rates individuals need to look at from 1 Apr
 Provisional Enrollment under Goods and Service Tax (GST)
 Ten income tax changes that will come in to effect from April 1
 New income tax provisions you need to be aware of

Effect of POT Rules 2011 on change in Service Tax Rate
March, 13th 2015

Effect of POT Rules, 2011 on change in rate of Service Tax.

Although this effect is to be reckoned from the effective date as notified by the Central Government.

Sr. No.

Taxable Service Provided

Issue of Invoice

Receipt of Payment

Point of Tax

Rate Applicable

1.

Before

After

After

Earlier of date of payment/issue of invoice

14%

2.

Before

Before

After

Date of issue of invoice

12.36%

3.

Before

After

Before

Date of payment

12.36%

4.

After

Before

After

Date of Payment

14%

5.

After

Before

Before

Earlier of date of payment / Issue of Invoice

12.36%

6.

After

After

Before

Date of issue of Invoice

14%

Note:-

  1. The proposed levy of Swachh Bharat Cess @ 2% is also in the nature of service tax as narrated in clause 117 of the Finance Bill 2015. Thus POT rules shall equally apply to it in the same manner as mentioned above.
  2. The words ‘Before’ and ‘After’ in the above table mean before/after the date to be notified.
  3. In case of Sr. No. 3 and Sr. No. 5 above, if the payment is not credited in the bank within 4 working days from the date when there is change in effective rate of tax, the new rate of 14% would apply. (Rule 2A of POT Rules,2011)
  4. The rate of 12.36% is inclusive of Education Cess and SHE Cess.

CA Akash Phophalia

9799569294

ca.akashphophalia@gmail.com

Office No 3

Second Floor

Amrit Kalash

Residency Road

Near Bombay Motor Circle

Jodhpur - 342001

Rajasthan

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions