Rate of service tax

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Querist : Anonymous

Querist : Anonymous (Querist)

15 June 2015 experts,
my query is that what is the rate of service tax 14% or 14.42%. if 14% do i suggregate secondary and higher education cess.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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15 June 2015 It is 14% no segregation is required.

CMA MALHAR BEHERA

CMA MALHAR BEHERA (Expert)
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15 June 2015 Its 14% not 14.42% and no need to segregate.

As per Circular No. 183/02/2015-ST, Dtd. 10th April, 2015 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.

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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17 June 2015 It is only 14% net dear.......

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