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

[KASTURI SETHI]

This service is covered under erstwhile BAS category as Commission Agent/intermediary Service. See Rule 2(f)Placement of Provisions Service Rules, 2012. Rate 12 % + Education Cess 2% on ST and Secondary Education Cess 1 % on ST during 2012-13. Also go through Board's Circular No. 180/06/2014-S.T., dated 14-10-2014 for further detailed information and clarification

[DR.MARIAPPAN GOVINDARAJAN]

Why this query is at this distant time? Further the limitation period for taking action by the department might have been over for such period.

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.