SERVICE TAX RATE FY 2012-13 ON MONEY CHANGER SERVICE

[rakesh kumar]

SIR IN WHICH RATE THE SERVICE TAX APLICABLE ON MONEY CHANGER IN 2012-13

AI Summary

Service Tax on Money Changer Services in 2012-13: 12% Rate Plus Education and Secondary Cess. Limitation Period Concerns Raised. A query was raised regarding the applicable service tax rate for money changer services during the fiscal year 2012-13. One response clarified that the service was categorized under the BAS category as Commission Agent/intermediary Service, with a rate of 12% plus an Education Cess of 2% and a Secondary Education Cess of 1%. Another respondent questioned the relevance of the query given the elapsed time and noted that the limitation period for departmental action might have expired.