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Rate of service tax

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..... Sir, At present what is the rate of Service Tax ? Is the new rate declared in Budget 2015 for service tax applicable now or whet this new rate will become applicable and at which rate ? Thanks - Reply By MARIAPPAN GOVINDARAJAN - The Reply = It will be applicable only after the Finance Bill 2015 ' gets the assent of the President. - Reply By Rajagopalan Ranganathan - The Reply = Sir, .....

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..... 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 increased from 12% plus Education Cesses to 14%. The Education Cess and Secondary and Higher Education Cess shall be subsumed in the revi .....

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..... sed 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 . Further, it has been provided vide clauses 179 and 187 respectively of the Finance Bill, 2015 that sections 95 of the Finance .....

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..... 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 notified by the Central Government after the enactment of the Finance Bill, 2015. 3.4 Till the time the revised rate .....

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..... comes into effect, the Education Cess and Secondary and Higher Education Cess will continue to be levied in Service Tax. - Rate of service tax - Query Started By: - MAYANK SUKHAR Dated:- 13-3-2015 Service Tax - Got 2 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagem .....

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..... entindia.com - TMI - TaxTMI - TMITax .....

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