Rate of service Tax

[Manoj Sharma]

Dear Sir,

We have rental income from commercial buildings and raising advance bill annually as per agreement . suppose we  raise advance bill on 28/03/12  pertaining for the period of 'March 2012 to Feb 2013' , what would be rate of service tax 10.30% or 12.36% ?

 

Regds

 

Manoj Sharma

AI Summary

Applicable Service Tax Rate on Commercial Rental Income Before April 2012 is 10.30%, Not 12.36%. A query was raised regarding the applicable service tax rate on rental income from commercial buildings when an advance bill is issued for the period from March 2012 to February 2013. The question was whether the rate should be 10.30% or 12.36%. The response clarified that the applicable rate would be 10.30% since the new rates would only take effect from April 1, 2012.