What is 40% of 12.36%? - CBEC concedes two decimal places
CBEC in its Circular No. 184/2015-S.T, dated 03.06.2015 clarified that 40% of 12.36 is 4.9%. 08 06 2015 expressed a doubt that arithmetically it might be slightly inaccurate as 40% of 12.36 is 4.944. Now the Board has issued a Press Release clarifying that it is 4.94%. We are grateful to the Board for this clarification, but it would have been more accurate if they had accepted the third decimal place also and conceded that it is 4.944 and not 4.94.
Board also clarifies that Restaurants, eating-joints or messes which do not have the facility of air-conditioning or central air-heating in any part of the establishment are exempt from service tax. But who had this doubt? And this was any way clarified in the above mentioned Circular.
Without wasting its time in useless clarifications, why can't the Board clarify on what to do with the credit balance of education cess?