Service Tax Rate

[Sanjeev Jha]

Respected Sir,

Can you please advice the applicable service tax rate from 1 may 2015.

AI Summary

Service Tax Rate Update: Current 12.36% Rate Stays Until 14% Rate's Effective Date Announced in Finance Bill 2015. A query was raised regarding the applicable service tax rate from May 1, 2015. In response, it was clarified that the proposed service tax rate is 14%, as mentioned in the budget, but the effective date has not been declared. The current rate, including Education Cess and Secondary and Higher Education Cess, is 12.36%. The new rate of 14% will subsume these cesses, resulting in an effective increase. Until the Finance Bill, 2015 is enacted and a new date is notified, the existing rate will remain in effect.