Adjustment of R & D Cess / Notificaitton No 14/2012 ST

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..... Dear all Dear Sir, We are paying R D cess on import of technology. We want to avail benefit of Notification no 14/2012-ST to adjust ST payment of Int. Prop. Ser. after fulfil all conditions therein. we have paid the R D Cess Rs. 50000/- my liability for the month is 150000+3000+1500=154500/- my query is my liability will be 1) 100000+3000+1500=104500/- or 2) 101455+2030+1015=104500/-(by ba .....

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..... ck calculating 50000 to calculate Cess and SHED Cess) or 3) 100000+2000+1000=103000/- please guide - Reply By Pradeep Khatri - The Reply = Option number one is applicable in you case. - Reply By Yatin Bhopi - The Reply = Dear Sir In Notification no 14/2012 ST the wording is "is necessary in the public interest so to do, hereby exempts the taxable service involving import of technology, fr .....

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..... om so much of the service tax leviable thereon under section 66B of the said Act, as is equivalent to the amount of cess payable on the said import of technology under the provisions of section 3 of the Research and Development Cess Act, 1986 (32 of 1986)" it is confusing, when Service Tax is exempt how 2% cess and 10% SHE cess is payble on exempted portion of service tax?. can you please check .....

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..... the possibility of option no 3 i.e. 100000+2000+1000=103000 - Reply By Pradeep Khatri - The Reply = If you had paid R D Cess then the amount of R D Cess will be deducted from the total liability of service tax. Service Tax (Say) Rs. 12.36 R D Cess (Say) Rs. 5.00 You would have to pay Balance amount of Rs. 7.36 only - Adjustment of R & D Cess / Notificaitton No 14/2012 ST - Query Star .....

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..... ted By: - Yatin Bhopi Dated:- 10-4-2013 Service Tax - Got 3 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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