Education cess of service tax
This query is : Resolved
Vimal Raj M
(Querist)
21 March 2012
At present, the rate of Service Tax is 10%, payable on the "gross value of taxable service". In addition to this, Education Cess is payable at the rate of 3% on the Service Tax amount.
As per Union Budget 2012-13, service tax rate increased to 12% from 10% w.e.f.01.04.2012.
Please let me know whether education cess @ 3% is applicable or not w.e.f.01.04.2012.
As per Union Budget 2012-13, service tax rate increased to 12% from 10% w.e.f.01.04.2012.
Please let me know whether education cess @ 3% is applicable or not w.e.f.01.04.2012.
Krishna Mohan
(Expert)
21 March 2012
Yes; education chess @ 3% shall be applicable w.e.f Apr,12
21 March 2012
Education Cess on taxable services is imposed under section 91 read with section 95 of the Finance (No.2) Act, 2004. Since there is no amendment in those sections in the Finance Bill,2012 3% levy continues.
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