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TMI BlogService TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 rate of service tax is 10% .Service tax @ 12% is effective from 1st April 2012 - Reply By NEERAJ KUMAR, RANCHI - The Reply = For the mo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nth 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 be 12% from 1st April as this increase is by way of withdrawl of notification which had reduced service Tax from 12% to 10%.T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his 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 Reply = Received the rent (IMM PROPERTY) of Rs.750000/- in f.yr 2010-11 exempted no tax and recd rent of Rs 135 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7500/- 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 - Reply By raj kumar shukla - The Reply = it appears to be more of query than a reply. pl post in co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lmn 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 S.TAX LIBILI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TY 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (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 2011-12 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 Akhi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l 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 response 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 su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... resh 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 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.24,00,00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 @ 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 was 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 Repl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y = Dear M. Sureshji Thanks for reply . I got my query answered. Thanx a ton. Kalpana - Service Tax - Query Started By: - Mridul Sethi Dated:- 5-5-2012 Service Tax - Got 12 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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