New rate of st

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Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2015 Dear All

Please let me Know the New Serive rate of 14%+ed cess+ shes or Only 14%.

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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27 March 2015 new rate yet to b annouced

it wil b 14 % + .28(2% of 14%) as clean ganga cess

we all r hoping for this... stil lets wait for the notification

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 March 2015 Please refer D.O.F. No. 334/5/2015-TRU Dated 28.02.2015 from link given below:

http://www.cbec.gov.in/ub1516/do-ltr-jstru2.pdf

In point No. 3.1 it is clearly mentioned that "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 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.

In Point No. 3.3 it is also mentioned that "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."

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