service tax after budget 2015

[Mangesh khedkar]

which date effect on new service tax rate after budget 2015

AI Summary

New Service Tax Rate to Rise from 12% to 14%, Effective Post-Finance Bill 2015 Enactment and Notification The discussion focuses on the implementation of the new service tax rate following the 2015 budget. The increase from 12% to 14% will take effect once the Finance Bill, 2015 is enacted and a notification is issued by the Central Government. The Education Cess and Secondary and Higher Education Cess will be subsumed in the new rate. Until the notification is issued, the existing service tax rate, including cesses, will remain applicable. The enactment of the Finance Bill requires the President's assent, after which the new rate will be implemented.