TaxTMI 
TaxTMI 
Effective rates of service tax
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....ffective rates of service tax<br>By: - CA Akash Phophalia<br>Service Tax<br>Dated:- 28-5-2015<br><br>Rates of service tax and compound rates since 1994 Sr. No. Period Rate of Service Tax Rate of Education Cess Rate of Secondary and Higher Secondary Education Cess 1 1-7-1994 to 13-5-2003 5% Nil Nil 2 14-5-2003 to 9-9-2004 8% Nil Nil 3 10-9-2004 to 17-4-2006 10% 2% of S.T. Nil 4....
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.... 18-4-2006 to 31-5-2007 12% 2% of S.T. Nil 5 1-6-2007 to 23-2-2009 12% 2% of S.T. 1% of S.T. 6 24-2-2009 to 31-3-2012 10% 2% of S.T. 1% of S.T. 7 1-4-2012 to 31-5-2015 12% 2% of S.T. 1% of S.T. 8 1-6-2015 Onwards 14% Nil Nil Compound rates of service tax Nature of Service Compound Rate Till 31-5-2015 Compound Rates from 1-6-2015 Onwards Booking of tickets for Air Trave....
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....l Provided by air travel agents * 0.6% on the basic fare in case of domestic booking. * 1.2% on the basic fare in case of international booking. * 0.7% on the basic fare in case of domestic booking. 1.4% on the basic fare in case of international booking. Insurer carrying on life insurance business * On the gross premium charged from the policyholder reduced by the amount allocated for ....
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....investment ans savings on behalf of policyholder. * In all other cases, 3% of the premium charged in the first year and 1.5% of premium charged in subsequent year. * On the gross premium charged from the policyholder reduced by the amount allocated for investment ans savings on behalf of policyholder. In all other cases, 3.5% of the premium charged in the first year and 1.75% of premium char....
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....ged in subsequent year Purchase or sale of foreign currency including money changing * 0.12% of gross amount of currency exchanged for an amount up to ₹ 1 lac subject to minimum amount of ₹ 30. * ₹ 120 and 0.06% of the gross amount of currency exchanged for an amount exceeding ₹ 1 lac and up to ₹ 10 lacs. * ₹ 660 and 0.012% of gross amount of currency exc....
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....hanged for an amount exceeding ₹ 10 lacs but subject to maximum amount of ₹ 6000. * 0.14% of gross amount of currency exchanged for an amount up to ₹ 1 lac subject to minimum amount of ₹ 35. ₹ 140 and 0.07% of the gross amount of currency exchanged for an amount exceeding ₹ 1 lac and up to ₹ 10 lacs. ₹ 770 and 0.014% of gross amount of currency....
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.... exchanged for an amount exceeding ₹ 10 lacs but subject to maximum amount of ₹ 7000. Distributors and selling agents or persons assisting in organizing lottery * ₹ 7000 on every ₹ 10 lacs (or part of 10 lacs) of aggregate face value of lottery provided, where guaranteed price pay out is more than 80% * ₹ 11000 on every ₹ 10 lacs (or part of ₹ 10 lacs....
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....) of lottery provided, where guaranteed price payout is less than 80% * ₹ 8200 on every ₹ 10 lacs (or part of 10 lacs) of aggregate face value of lottery provided, where guaranteed price pay out is more than 80% ₹ 12800 on every ₹ 10 lacs (or part of ₹ 10 lacs) of lottery provided, where guaranteed price payout is less than 80% Education Cess and Secondary & High....
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....er Secondary Education Cess Charged separately Cess has been abolished. Effective Rates after Abatement (Including Cess) Nature of Service Compound Rate Till 31-5-2015 Compound Rates from 1-6-2015 Onwards Works Contract Option I Gross Amount - Value of goods 12.36% 14% Option II (a) 40% in case of Original Works 4.944% 5.60% b) 70% in remaining cases 8.652% 9.80% Restaurant Servi....
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....ces 4.944% 5.60% Outdoor Catering 7.416% 8.40% Financial Leasing and Hire Purchase 1.236% 1.40% Transport of goods by rail 3.708% 4.20% Transport of passengers by rail 3.708% 4.20% GTA 3.708% 4.20% Bundled Services (Food + Rent, etc) 8.652% 9.80% Transport of passengers by air Economy class 4.944% 5.60% Other class 7.416% 8.40% Room Rent 7.416% 8.40% Renting of Motor....
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.... Cab 4.944% 5.60% Transport of passengers by a contract carriage other than motor cab and by a radio taxi 4.944% 5.60% Transport of goods in a vessel 3.708% 4.20% Tour Operator Services (a) Package Tour 3.09% 3.50% (b) Booking Accomodation 1.236% 1.40% (c) Other than above 4.944% 5.60% Construction of complex (a) Residential complex of area less than 2000 sq ft and amount charg....
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....ed is less than ₹ 1 Crores. 3.09% 3.50% (b) Other complexes 3.708% 4.20% SWACHH BHARAT CESS - yet to be notified. This is just for your reference. It does not constitute our professional advice or recommendation. CA Akash Phophalia 9799569294 [email protected] Office No 3, Second Floor Amrit Kalash, Residency Road Near Bombay Motor Circle Jodhpur - 342001 Reply By D....
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....irgesh shah Ratilal as = Dear Sir, Good Morning, Pl. write us which rates are applicable on Transporters Goods Service ( GTA) after 01/06/2015 & Before 01/06/2015. with example. Warm Regards. Dirgesh Shah Mo. No. 9408979754 Dated: 29-5-2015 Reply By CA Akash Phophalia as = Dear Sir The rate of service tax before and after 01.06.2015 in relation to GTA is already mentioned in the article.....
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.... As far as example is concerned, you may please send me the situation with some concrete dates and figures and I will try to explain the same. Dated: 29-5-2015<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....