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Effective rates of service tax

Service Tax - By: - CA Akash Phophalia - Dated:- 28-5-2015 Last Replied Date:- 29-5-2015 - Rates of service tax and compound rates since 1994 Sr. No. Period Rate of Service Tax Rate of Education Cess Rate of Secondary and Higher Secondary Education Cess 1 1-7-1994 to 13-5-2003 5% Nil Nil 2 14-5-2003 to 9-9-2004 8% Nil Ni .....

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% 2% of S.T. 1% of S.T. 8 1-6-2015 Onwards 14% Nil Nil Compound rates of service tax Nature of Service Compound Rate Till 31-5-2015 Compound Rates from 1-6-2015 Onwards Booking of tickets for Air Travel Provided by air travel agents 0.6% on the basic fare in case of domestic booking. 1.2% on the basic fare in case of international book .....

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On the gross premium charged from the policyholder reduced by the amount allocated for investment ans savings on behalf of policyholder. In all other cases, 3.5% of the premium charged in the first year and 1.75% of premium charged in subsequent year Purchase or sale of foreign currency including money changing 0.12% of gross amount of currency exchanged for an amount up to ₹ 1 lac subject to minimum amount of ₹ 30. ₹ 120 and .....

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ding ₹ 1 lac and up to ₹ 10 lacs. ₹ 770 and 0.014% of gross amount of currency exchanged for an amount exceeding ₹ 10 lacs but subject to maximum amount of ₹ 7000. Distributors and selling agents or persons assisting in organizing lottery ₹ 7000 on every ₹ 10 lacs (or part of 10 lacs) of aggregate face value of lottery provided, where guaranteed price pay out is more than 80% ₹ 11000 on every  .....

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ry Education Cess Charged separately Cess has been abolished. Effective Rates after Abatement (Including Cess) Nature of Service Compound Rate Till 31-5-2015 Compound Rates from 1-6-2015 Onwards Works Contract Option I Gross Amount - Value of goods 12.36% 14% Option II (a) 40% in case of Original Works 4.944% 5.60% b) .....

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4.20% Bundled Services (Food + Rent, etc) 8.652% 9.80% Transport of passengers by air Economy class 4.944% 5.60% Other class 7.416% 8.40% Room Rent 7.416% 8.40% Renting of Motor Cab 4.944% 5.60% Transport of passengers by a contract carriage other than motor cab and by a .....

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