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of <h1>Service Tax Rate Hike to 12% Effective April 1, 2012; Payment Date Determines Rate for Select Services.</h1> The service tax rate has been increased to 12% effective from April 1, 2012. Clarification is provided for cases where invoices were issued before this date but payments are made after. For eight specified services provided by individuals, proprietary, or partnership firms, and services under reverse charge, the applicable tax rate is determined by the payment date. If payments occur on or after April 1, 2012, the 12% rate applies. Supplementary invoices may be issued to reflect the new rate, and Cenvat credit can be claimed based on these invoices and tax payment challans, adhering to Cenvat Credit Rules 2004.
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