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Service Tax Rate for 2014-15


8..3.        SERVICE TAX RATE

(Increase in Effective Service Tax Rate w.e.f. 11th May 2007.)

Service Tax Rate has been hiked to 12.36 per cent as Secondary and Higher Education Cess of 1 per cent on service tax has come into force. Consequently, w.e.f. 11th May 2007 the rate of service tax shall be revised as follows:

Service Tax on taxable value                                                               12.00%

Education Cess @ 2% of Service Tax                                                    0.24%

Secondary and Higher Secondary Cess (SHE) 1% of taxable value          0.12%

Hence effective service tax works out to                                          12.36%

Kindly note that all three heads of taxes shall have to be separately displayed on the Invoice.

Service Tax Rate for 2014-15
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