Sub: Service Tax Rate 12.36%
The proposed 14% Service Tax rate will be implemented from a date to be notified after enactment of the Finance Bill, 2015. The exact date of which will be known after the Finance Bill gets assent of the Hon’ble President of India. Moreover, the “Education Cess” and “Secondary and Higher Secondary Education Cess” shall be subsumed in the revised rate of Service Tax i.e. 14% (No Cess on Service Tax).
Hence, one should not charge or pay 14% until a date has been notified after the President’s assent (Expected after end of April or in early May).
This is for your information.
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