TaxTMI 
TaxTMI 
Question - Is there any change in rate of service tax proposed in Finance Bill 2015 ?
Change in Service Tax rate
01 Mar 2015 
1 Reply 
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Service tax rate change subsumes education cesses; new rate to take effect upon government notification.
Increase in Service Tax rate is proposed by the Finance Bill 2015, raising the statutory levy to a consolidated rate that subsumes the Education Cess and the Secondary and Higher Education Cess. The revised rate will take effect from a date to be notified by the Central Government after enactment; until that notification the Education Cess and the Secondary and Higher Education Cess continue to be levied in addition to the prevailing Service Tax. (AI Summary)
Increase in Service Tax rate is proposed by the Finance Bill 2015, raising the statutory levy to a consolidated rate that subsumes the Education Cess and the Secondary and Higher Education Cess. The revised rate will take effect from a date to be notified by the Central Government after enactment; until that notification the Education Cess and the Secondary and Higher Education Cess continue to be levied in addition to the prevailing Service Tax. (AI Summary)