TaxTMI 
TaxTMI 
At which rate service tax for the m/o March-12 will be charged.10% or 12%.
Service Tax
05 May 2012 
12 Replies 
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Service tax rate change: prior rate applies to March, higher rate effective from April; exemption threshold affects rental tax liability.
For March 2012 the pre-existing service tax rate applied; a higher rate became effective from 1 April 2012 following enactment and notification. The forum also addressed the exemption threshold for rental receipts, identifying the limit as ten lakh and recording two positions: one view that tax applies only to the excess over the threshold for 2011-12, and another that once the threshold is crossed the entire gross receipts are taxable. (AI Summary)
For March 2012 the pre-existing service tax rate applied; a higher rate became effective from 1 April 2012 following enactment and notification. The forum also addressed the exemption threshold for rental receipts, identifying the limit as ten lakh and recording two positions: one view that tax applies only to the excess over the threshold for 2011-12, and another that once the threshold is crossed the entire gross receipts are taxable. (AI Summary)