TMI BlogSERVICE TAX LIABILITY OF ROYALTYX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Experts, We have made provision from 1.1.2012 to 31.03.2012 on Service Tax of Royalty @10% under reverse charge machenism and payment made to foreign in may 2012. As per finance bill 2012 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e rate of service tax is 12% from 1.4.2012. Now i am confuse what will be the rate of charged either it is 10% or 12% for service receiver under reverse charge machenism beacuse service tax liability ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... should be payment basis. Pl clerify. Thanks - Reply By Vijay Chitte - The Reply = As per CBEC, Circular No. 158/9/2012 Dt.08.05.2012 in case of tax is required to be paid on reverse charge by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the service receiver, the date of payment on or after 1st April 2012, service tax need to be paid @12.36%. - Reply By vijay kumar - The Reply = In terms of Section 66A of the Finance Act, 1994 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... read with Rule 7 of Point of Taxation Rules, 2011 , you have to pay the service tax @ 12.36% which is applicable from 1.4.2012 since the date of payment is in May, 2012. The provision made by you ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in your books of account is not relevant. - SERVICE TAX LIABILITY OF ROYALTY - Query Started By: - RAM NAUDIYAL Dated:- 5-11-2012 Service Tax - Got 2 Replies - Service Tax - Discussion Forum - Kno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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