Rates of Service Tax (AMENDMENTS)

Last updated at April 16, 2024 by

Rate of Service tax  is as follows

What is the Rate of Service Tax for 2015-16 and 2016-17 - Basics

AMENDMENTS

  • Section 66B , the charging section, has been amended to increase the rate of service tax from 12% to 14%.
  • (Section 153 and Section 159 provided for  Education Cess and Secondary and Higher Education Cess leviable.These have been abolished from 1.6.2015
  • Section 119 of the Finance Act, 2015 has empowered the Central Government to impose a Swachh Bharat Cess on all or any of the taxable services at a rate of 2% on the value of such taxable services. But only 0.5% has been imposed wi th efect from 16.11.2015

 

NOTE

For the purpose of November/December 2016 exams,14.5% rate is applicable

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.