Union budget 2015-16 highlights : Service tax

Union budget 2015-16 has been presented by honourable Finance minister Mr. Arun Jetley on 28th February, 2015. I have gathered details of key changes in service tax in union budget 2015-16. Let’s have a look. Union budget 2015-16 highlights: service tax: Change in service tax rate in budget 2015-16: Service tax rate has been increased from 12.36% to 14 %. Please note that there will be no levy of education cess and higher secondary cess on 14%. The new service tax rate will be applicable from 1st june, 2015.       Levy of swachh Bharat Cess 2% on service tax: Central Government is empower to charge 2%  Swachh Bharat cess on any or all taxable services. That will be notified. Entertainment events/ ammusement facilities are taxable now: Fully taxable services : Amusement facilities like means of rides, gaming devises, bowling alleys in amusement parks, theme parks etc. which were exempted earlier because of inclusion in negative list are now taxable fully. Partially taxable services : Admission / entry to concerts, non recognised sporting events, music concerts, award functions are exempted if admission or entry fees is up to Rs. 500. If entry fees is more than Rs. 500, service tax should be levied. Fully exemted services: Some services are still fully exempted after budget 2015-16. Those services are used by large people frequently. The services are exhibition of...

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