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TMI BlogRate of service taxX X X X Extracts X X X X X X X X Extracts X X X X ..... Rate of service tax X X X X Extracts X X X X X X X X Extracts X X X X ..... It will be applicable only after the "Finance Bill 2015' gets the assent of the President. Reply By Rajagopalan Ranganathan: The Reply: Sir, Para 3 of D.O.F. No. D.O.F. No. 334/5/2015- TRU dated 28.02.2015 of Joint Secretary to government of India, Tax Research Unit gives the answer to your query which is reproduced below: - 3. Service Tax Rate: 3.1 The rate of Service Tax is being ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... increased from 12% plus Education Cesses to 14%. The 'Education Cess' and 'Secondary and Higher Education Cess' shall be subsumed in the revised rate of Service Tax. Thus, the effective increase in Service Tax rate will be from the existing rate of 12.36% (inclusive of cesses) to 14%, subsuming the cesses. 3.2 In this context, an amendment is being made in section 66B of the Finance Act, 1994. Fu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rther, it has been provided vide clauses 179 and 187 respectively of the Finance Bill, 2015 that sections 95 of the Finance Act, 2004 and 140 of the Finance Act, 2007, levying Education Cess and Secondary and Higher Education Cess on taxable services shall cease to have effect from a date to be notified by the Government. 3.3 The new Service Tax rate shall come into effect from a date to be notif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ied by the Central Government after the enactment of the Finance Bill, 2015.
3.4 Till the time the revised rate comes into effect, the 'Education Cess' and 'Secondary and Higher Education Cess' will continue to be levied in Service Tax. X X X X Extracts X X X X X X X X Extracts X X X X
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