Hi Team,
We have contracts valid from last FY. We have periodic billing/quarterly billing. April, May and June due will be Invoiced at the month of June (Quarterly invoicing). Currently for April and May, the system is considering Service Tax of 12.36% and for items due in June, the system considering 14% service tax.
Since the posting date of the rent is in June 2015 (current period), the new tax rate of 14% should be applicable even for Apr & May when doing a quarterly invoicing.
Please provide the steps to be taken to resolve this.
Thanks and Regards,
R Rajavelu