Thursday, 14 May 2015

Finance Bill 2015 got Presidential assent

Hon’ble President has given assent to Finance Bill, 2015 and now it became Finance Act (No.20)2015.
2.   Notification for effective date regarding increase in service tax rate from 12.36% to 14% is still awaited.
3.   Notification for effective date regarding levy of Swachh Bharat Cess of 2% also awaited.
4.   Notification for effective date for changes in section 65B, 66B and 66D of the Finance Act 1994 also awaited.
5.   Changes in section 66F, 67, 73, 76, 78, 80, 86 and 94 of the Finance Act 1994 became effective from the assent of the enactment of the bill.
6.   Also newly inserted section 78B of the Finance Act 1994 also became effective from the assent of the enactment of the bill

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