New rate of st
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 March 2015
Dear All
Please let me Know the New Serive rate of 14%+ed cess+ shes or Only 14%.
Please let me Know the New Serive rate of 14%+ed cess+ shes or Only 14%.
CA AnKiT BoHrA (AB)
(Expert)
27 March 2015
new rate yet to b annouced
it wil b 14 % + .28(2% of 14%) as clean ganga cess
we all r hoping for this... stil lets wait for the notification
it wil b 14 % + .28(2% of 14%) as clean ganga cess
we all r hoping for this... stil lets wait for the notification
28 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. 3.1 it is clearly mentioned that "The rate of Service Tax is being increased from 12% plus Education Cesses to 14%. The ‘Education Cess’ and ‘Secondary and Higher Education Cess’ shall be subsumed in the revised rate of Service Tax. Thus, the effective increase in Service Tax rate will be from the existing rate of 12.36% (inclusive of cesses) to 14%, subsuming the cesses.
In Point No. 3.3 it is also 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."
https://www.cbec.gov.in/ub1516/do-ltr-jstru2.pdf
In point No. 3.1 it is clearly mentioned that "The rate of Service Tax is being increased from 12% plus Education Cesses to 14%. The ‘Education Cess’ and ‘Secondary and Higher Education Cess’ shall be subsumed in the revised rate of Service Tax. Thus, the effective increase in Service Tax rate will be from the existing rate of 12.36% (inclusive of cesses) to 14%, subsuming the cesses.
In Point No. 3.3 it is also 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."
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