Service Tax Liability

[MUNIRAJ SRINIVASAN]

Oct 2011 Rent received now , we have to calculate Service tax Liability 10.3% or 12.36%

[YAGAY andSUN]

It would be calculated @ 10.30% + Interest @ 18% per annum.

[Harsh Jindal]

rate of service tax will be 10.30%

AI Summary

Service tax rate on rent clarified; interest applies for delayed payment of the tax. Responses indicate that rent receipts attract a service tax rate of 10.30% and that interest on unpaid tax is payable at 18% per annum.