GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Service tax is payable on the value of taxable service @
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10.3 %
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12 %
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12.24 %
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12.36 %
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Explanation:
Detailed explanation-1: -With effect from 01.04. 2012, Rate of service tax has been increased from 10.3% to 12.36%. Therefore, professionals and assesses must know where the old rate of Service Tax can be applied.
Detailed explanation-2: -2:-RATE OF SERVICE TAX (applicable w.e.f. 01.04.2012) The rate of service tax is being restored to the statutory rate of 12%.
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