Service Tax Rate revised from 14.50% to 15% w.e.f. June1st, 2016.
This is to inform you that the Ministry of Finance, Department of Revenue has revised Service Tax Rate from 14.50% to 15% (14% ST+ 0.5 Swachh Bharat Cess + 0.5% Krishi Kalyan Cess) on value of taxable services, which will become effective from June 1st, 2016.
The revision in the tax rate is to levy Krishi Kalyan Cess @0.50%.
Important-After 1st June, 2016 for any products or services due for renewal or for payment of any new product or order, the service tax of 15% will be levied.
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