Finance Bill 2015 New Service Tax Rates Applicable wef the date as to be provided in notification

In the budget 2015-16 the provisions were made to increase the service tax from 12.36% to 14% plus 2% Swach Bharat Tax. The Finance bill has been passed in Loksabha, Rajya Sabha and assented by Hon'able President but the new service tax rates will be applicable from the date as provided in the notification which is still pending upoto 17th May 2015. The same is likely to be issued in this week and as per information received sufficient time will be given to the tax collector to start collection of ST at the new rates.

Rakesh K,. Shahi
ADVOCATE
9780300415