TaxTMI 
TaxTMI 
TaxTMI 
Service Tax
X X X X Extracts X X X X
X X X X Extracts X X X X
....ervice Tax<br> Query (Issue) Started By: - Mridul Sethi Dated:- 5-5-2012 Last Reply Date:- 22-5-2012 Service Tax<br>Got 12 Replies<br>Service Tax<br>At which rate service tax for the m/o March-12 will be charged.10% or 12%. Reply By Pradeep Khatri: The Reply: It will be charged @ 10% for the month of March 2012 as per POTR. Reply By manoj lalwani: The Reply: For the month of March 2012 the rat....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e of service tax is 10% .Service tax @ 12% is effective from 1st April 2012 Reply By NEERAJ KUMAR, RANCHI: The Reply: For the month of March'12, s.tax is applicable @10 % only, 12 % will be applicable only after finance bill is passed in parliament and assent is given by the president. After this date will be notified making effective rate @ 12 %. Reply By raj kumar shukla: The Reply: it would....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... be 12% from 1st April as this increase is by way of withdrawl of notification which had reduced service Tax from 12% to 10%.This withdrawl is effective from 1st April. this is not the case of simple increase in rate of service Tax. Reply By NEERAJ KUMAR, RANCHI: The Reply: Yes, the increased rate is effective w.e.f 01.04.2012. I agree with Mr Shukla. Reply By SUNIL & KALPANA SINGH TOMAR: The R....
X X X X Extracts X X X X
X X X X Extracts X X X X
....eply: Received the rent (IMM> PROPERTY) of Rs.750000/- in f.yr 2010-11 exempted no tax and recd rent of Rs 1357500/- in f.yr 2011-12 service tax on Rs557500/- @10.3% + Intrest 13% We want the registration in service tax in self HUF a/c so pls guide us what exemption on us in huf a/c or in future Can we pay the service tax after less the exemption or charge from Rs.1/- Pls guide us . Thanks ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Reply By raj kumar shukla: The Reply: it appears to be more of query than a reply. pl post in colmn meant for it so that others could see it Reply By SUNIL & KALPANA SINGH TOMAR: The Reply: Dear Sir, One of my relative (mr.akhil singh tomar HUF a/c) receiving the commercial rent as per following manner: Year Total Retal Income 2010-11 ------------------------------------ Rs.7,50,000=00 (NO ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....S.TAX LIBILITY IMPOSED under exemption 8 LAC) 2011-12 -------------------------------------- Rs.13,57,500=00 ( Service Tax @10.3% Due of Rs.557000/- after exeption Deduction) 2012-2013 ----------------------------------- Rs.24,00,000=00 (Service Tax @12.36% Due from April2012) We request you kindly direct us on the following issues * Can we avail the exemption of Rs.8/-lac for the year 2011-1....
X X X X Extracts X X X X
X X X X Extracts X X X X
....2 or What value should be considered for the valuation of Service Tax for the year 2011-12 ? *How much Service Tax should be paid for the year 2012-13, when we are receiving the rent Rs.200000/- Per month (In same A/C Akhil Singh Tomar HUF A/C)? *Are we required to deduct the value of Rs.800000/- from the total rental value for depositing the service tax? We would we very obliged for your respo....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nse in this regard. Thanks Kalpana Singh Reply By SUNIL & KALPANA SINGH TOMAR: The Reply: Dear Sir, We are waiting your response in this regard. kalpana Reply By suresh mandadapu: The Reply: Dear Madam, Service tax is applicable when gross receipts exceed Rs.10,00,000 in a year. 1. In 2010-11, there was no service tax liabiity since your gross receipts were less than Rs.10,00,000 2. In....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 2011-12, you have to pay service tax on Rs.3,57,500 (13,57,500-10,00,000) @ 10.3% 3. In 2012-13, you have to pay service tax on entire gross receipts of Rs.24,00,000 @ 12.36%. You can not deduct Rs.10,00,000 (exemption limit) Awaiting others' response Regards M. Suresh Reply By NEERAJ KUMAR, RANCHI: The Reply: Yes Mr Sureh is absolutely correct, exemption limit during 2010-11 and 2011-12 wa....
X X X X Extracts X X X X
X X X X Extracts X X X X
....s 10 laksh and not 8 lakh. once crossed the exemption limit you have to pay s tax on the entire amount. Reply By SUNIL & KALPANA SINGH TOMAR: The Reply: Dear M. Sureshji Thanks for reply . I got my query answered. Thanx a ton. Kalpana<br> Discussion Forum - Knowledge Sharing ....