Please let us know effective date of new service tax rate i.e. @14%.
If it is not passed in parliament can we issue service tax invoice @12.36%.
Further if it is passed in parliament in later with effect from 01.04.15 then how we will recovered that difference from our customers.
Please guide us.
New Service Tax Rate of 14% Effective Only After Notification; Continue Invoicing at 12.36% Until Then. A participant inquired about the effective date of a new service tax rate of 14% and whether they should continue issuing invoices at the current rate of 12.36% if the new rate has not been passed in parliament. They also asked how to recover the difference from customers if the new rate is applied retroactively. Respondents advised that the new rate would only apply from a date specified in a notification, and until then, invoices should be issued at the current rate. It was emphasized not to issue invoices at the new rate until officially notified. (AI Summary)
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