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Author Topic: No education cess on service tax with effect from 01.07.2012  (Read 1272 times)

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Offline TechShristi

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 No education cess on service tax with effect from 01.07.2012   
Education cess @ 2% was levied under Finance Act, 2004 and SHE Cess @ 1% under Finance Act, 2007. Both these are on the service tax levied on Section 66 of Finance Act 1994. This section 66 will cease to apply with effect from 01.07.2012. The new charging section 66B made applicable in place of section 66.    The Education Cess @ 2% and Secondary & Higher Education Cess @ 1% is not made applicable for section 66B and therefore, as at present, no education cess or secondary & higher education cess on service tax  can be collected from 01.07.2012. It is a mistake from the Government.  This is likely to create problems to the Govt.  Let us wait how the Govt will clear this issue.

Source:http://mptony.blogspot.in/2012/06/no-education-cess-on-service-tax-with.html

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No education cess on service tax with effect from 01.07.2012
« Reply #1 on: June 30, 2012, 11:23:29 PM »
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No education cess on service tax with effect from 01.07.2012
« Reply #1 on: June 30, 2012, 11:23:29 PM »

 
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