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In this case also,instead of normal service tax @ 14% on his commission,,money changer has the option to pay service tax as follows
|
Conversion of Amount upto |
Service tax Rate OLD |
Service tax Rate NEW (From 1.6.15) |
|
Upto 100000 |
0.12% Service tax (Min Rs 30) |
0.14% Service tax (Min Rs 35) |
|
100001-1000000 |
For first 100000 0.12% i.e. Rs 120 For balance 0.06% |
For first 100000 0.14% i.e. Rs 120 For balance 0.07% |
|
>1000000 |
For first 100000 0.12% i.e. Rs 120 For next 900000 0.06% i.e. Rs 540 For balance 0.012% Max Amt of Service tax is Rs 6000
|
For first 100000 0.14% i.e. Rs 140 For next 900000 0.07% i.e. Rs 630 For balance 0.014% Max Amt of Service tax is Rs 7000
|
