Increase in Service Tax Rate from 12% to 14% with Effect from 1st June, 2015
In the Union Budget, 2015, an increase in the rate of Service Tax from 12% to 14%
had been proposed from a date to be notified.
had been proposed from a date to be notified.
The Finance Bill, 2015 has since been enacted and the Central Government has notified
1st June, 2015 as the date from which the rate of 14% would become applicable. The
provisions levying Education Cess and Secondary and Higher Education Cess would also
cease to have effect from same date i.e. 1st June, 2015, as the same would be
subsumed in the service tax rate of 14%. Certain other changes have also been notified
with effect from 1st June, 2015.
1st June, 2015 as the date from which the rate of 14% would become applicable. The
provisions levying Education Cess and Secondary and Higher Education Cess would also
cease to have effect from same date i.e. 1st June, 2015, as the same would be
subsumed in the service tax rate of 14%. Certain other changes have also been notified
with effect from 1st June, 2015.
However, the date of giving effect to the provisions relating to imposition of a
Swachh Bharat cess on all or any taxable service will be done in due course.
Swachh Bharat cess on all or any taxable service will be done in due course.
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