What is service tax rate 2014?
What is service tax rate 2014?
The rate of Service Tax was increased from 12.36% to an all inclusive, flat 14%, which included Subsuming Education Cess and Secondary & Higher Secondary Education Cess.
What is the current rate of service tax?
15%
After the new proposal brought in during the 2016 Union Budget, the current service tax rate is 15% Which is effective from June 1, 2016. How will the Krishi Kalyan Cess be distributed? A service tax is collected by the Central Government from service providers for offering certain types of products and services.
What was the service tax rate in 2011 12?
With effect from 01.04. 2012, Rate of service tax has been increased from 10.3% to 12.36%. Therefore, professionals and assesses must know where the old rate of Service Tax can be applied.
What was the service tax in 2016?
What is the Rate of Service Tax for 2015-16 and 2016-17
| Period | Rate of Service Tax |
|---|---|
| Till 31 May 2015 | 12.36% |
| From 1 June 2015 to 14 Nov 2015 | 14% |
| From 15 November 2015 to 31 May 2016 | 14.5% |
| From 1 June 2016 | 15% |
What is the service tax rate?
Service tax is indirect tax levied on service provided. Service tax is charged at various rates due to availability of exemptions and abatements on various services. Use this chart to decide service tax rate applicable to you. There is change in service tax rate from 12.36% to 14% in budget 2015-16. Read following posts,
Is there any change in service tax rate in budget 2015-16?
There is change in service tax rate from 12.36% to 14% in budget 2015-16. Read following posts, When will new service tax rate 14% be applicable? Current service tax rate is 12%. On it, 2% education cess and 1% higher education cess are added.
What is the new rate applicable from 1st October 2014?
As the above amendment is applicable from 1st October, 2014 in certain borderline cases, confusion may creep in like whether old or new rate, i.e., 60% or 70% would be applicable where service has been completed before 1st October, 2014 but invoice has been raised and payment made after said date.
What is the service tax on renting of motor vehicle?
In case of Renting of motor vehicle where the service provider does not take abatement, the portion of Service tax payable by the service provider and service receiver has been modified as 50% each effective from October 1, 2014.
