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New rates of service tax

Naveen Kumar (Accountant) (37 Points)

10 April 2015

What is the effective date of new rate of Service Tax (i.e. 14%)

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4 Replies

CA AnKiT BoHrA (AB) (Manager) (25955 Points)
Replied 10 April 2015

no one knows... it wil b applicable once it get notified by the govt of india...

til than old rate is in use i.e. 12.36 %

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Manish K.Gandhi (Superintendent) (966 Points)
Replied 10 April 2015

I agree with CA Ankit Bohra. New date will be from enactment in parliament. However for some service there should be additional Swachha Bharat Cess of 2% but yet it is not clear how the same would be calculated i.e. on value of service or on service tax payable. It will be on some specific service which is not decided, yet.

Raveen.k (Articled assistant) (38 Points)
Replied 10 April 2015

Me too agree with CA ANKIT BOHRA

Manoj Agarwal (Service Tax Consultant Rourkela ServiceTaxExpert@yahoo.com) (3456 Points)
Replied 10 April 2015

Wait for the enactment of Finance Bill, 2015 after which the government will issue a notification for the effective date of application of revised rate of 14%. Normally, the President gives his assent in the 1st week of May.