Service tax new rat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 March 2015
service tax new rate declare in budget. inform to me 14% service tax effective date
Lalit Kumar
(Expert)
10 March 2015
yes the rate is now increased from 12.36 to 14%.. If we include Swachh Bharat Cess of 2%, then the effective rate would be 16%.
10 March 2015
https://www.caclubindia.com/articles/service-providers-be-ready-to-fulfill-the-dream-of-modi-s-swachh-bharat--23203.asp
yes it is 16% but only on specified services which is yet to be notified.
yes it is 16% but only on specified services which is yet to be notified.
10 March 2015
Please refer D.O.F. No. 334/5/2015-TRU Dated 28.02.2015 from link given below:
https://www.cbec.gov.in/ub1516/do-ltr-jstru2.pdf
In Point No. 3.3 it is clearly 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."
So you need to wait. Till new rates are notified the existing rate of 12.36% will continue.
https://www.cbec.gov.in/ub1516/do-ltr-jstru2.pdf
In Point No. 3.3 it is clearly 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."
So you need to wait. Till new rates are notified the existing rate of 12.36% will continue.
11 March 2015
since querist have asked only the effective date it is stated that new rate shall be notified by governemnt.
CA Raman Singla
(Expert)
22 March 2015
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