Rate of st

This query is : Resolved

Report Abuse Follow Query Ask a Query

ankeshrawala

ankeshrawala (Querist)
Follow

15 May 2015 what is curent rate service tax?and if it is 12.36 from which date new rate is applicable?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

15 May 2015 You need to charge Service Tax @ 12.36% as new rate is yet to be notified.

Also check out CBEC Clarification from link given below in this regard:

https://www.caclubindia.com/news/cbec-clarifies-rate-of-service-tax-is-12-36--14824.asp#.VTPLriGqqko

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

15 May 2015 Hon’ble President has given assent to Finance Bill, 2015 and now it became Finance Act (No.20)2015.

Notification for effective date regarding increase in service tax rate from 12.36% to 14% is still awaited.

Notification for effective date regarding levy of Swachh Bharat Cess of 2% also awaited.

Now Service Tax Notification in this regard is expected to be out very soon.

Upgrade to CAclubindia Pro. Subscribe Now!

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
Follow

15 May 2015 Yes it will b out soon.....

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

19 May 2015 Revised Service Tax Rate will be applicable from 01.06.2015.

Refer Notification No 14/2015 Dated 19.05.2015 from link given below:

https://www.caclubindia.com/forum/files/555789_20150519211107_notification.pdf

https://www.caclubindia.com/forum/files/555789_20150519213343_tru_letter.pdf

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
Follow

20 May 2015 Yes new rate it applicable now i.e.14% till any notifIcation came regarding cess from 1st june....