New service tax rate, applicable date.

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PRANAY JAIN

PRANAY JAIN (Querist)
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29 March 2015 When is 14% ST rate would be applicable, is it from 1st Apr15 or later date.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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29 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. 3.3 it is clearly mentioned that "The new Service Tax rate of 14% shall come into effect from a date to be notified by the Central Government after the enactment of the Finance Bill, 2015."

So till the new rates are notified Service Tax rate will be 12.36%. So as of now new rates are not applicable from 01.04.2015.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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