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Tag: service tax rate

Service tax rate chart for fy 2016-17 : with new service tax rate 15%

Service tax rate from 1st June, 2016 is 15% with krishi kalyan cess. I have given here service tax rate chart for FY 2016-17 to describe rate on various services with abatement and reverse charge mechanism – updated with budget 2016 changes. ( Service tax will be replaced with GST from 1st July, 2017. Know latest gst rate here) Note: Budget 2016 has increased service tax rate from 14.5% to 15% by levying Krishi Kalyan Cess at 0.5% . This change will be effective from 1st June, 2016. Till that you can use chart given below to decide service tax rate.    Service tax rate chart for fy 2016-17 with new service tax rate 15%:(applicable from 1/6/2016- with krishi kalyan cess) Service provided Amount( 1) Abatement rate or Exemption rate( 2) Value after abatement( 3=1-2) Service tax payable (3*15%) Effective rate to be charged on bill*( 4) =15%-abatement rate Conditions to be followed to claim abatement or exemption Tour operator service   Accommodation booking 10,000 90% 1000 150 1.50% No cenvat credit for input, input services or capital goods.Invoice includes amount of accommodation. tour (other than above) * 10,000 70% 3000 450 4.50% No cenvat credit for input, input services or capital goods. Transport of goods by rail by person other than Indian railway 10.000 60% 4000 600 6% No cenvat credit for input, capital goods. cenvat credit on input services are...

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When will new service tax rate 14% be applicable

After budget 2015 , the common question asked to me by various blog readers, when will new service tax rate 14% be applicable? That’s why I have written this post.The new rate will be applicable from 1st June, 2015. Applicability of new service tax rate 14% after budget 2015: I can understand worry of service tax payers about new service tax rate. Let me clear that new service tax rate will not be applicable from 1st April, 2015. When we read the amendment of section 66B, it reads as under, [su_quote]106. In section 66B of the 1994 Act, with...

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Current service tax rate chart for year 2014-15

Presenting current service tax rate chart for year 2014-15. You can find service tax rate chart 2015-16 with amended rate 14% here.- LINK. The new rate is applicable from june 1, 2015. 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,  budget highlights: service tax  When will new service tax rate 14% be applicable?...

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Service tax on manpower supply service ( security service)

Budget 2015 brings lots of changes in service tax. Service tax on manpower supply service and security services is covered under full reverse charge now. For better under standing, read detailed article.   Service tax on manpower supply service – Definition: Manpower supply means supply of manpower , temporarily or otherwise, to another person to work under his ( service receiver-employer) superintendence or control.(Rule 2(g) of service tax rules) Reference : cbec notification read here.  Service tax rate for manpower supply service: Service tax rate for manpower supply service is 12.36% until 1st June, 2015. New rate 14% will be...

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