Service Tax Rate Chart wef from 01.06.2015 (www.simpletaxindia.net)
Sr
No.
Description of taxable service
Abatement
%
Taxable
%
Effective
Rate %
0
100
14.00
90
70
70
10
30
30
1.400
4.200
4.200
A
B
1
2
3
All Services Not Covered in B-D
Services Covered Under Abatement
Financial leasing including hire purchase
Transport of goods by rail
Transport of passengers, by rail
4
Bundled service by way of supply of food or
any other article of human consumption or
any drink, in a premises ( including hotel,
convention center, club, pandal, shamiana or
any other place, specially arranged for
organizing a function) together with renting of
such premises
Transport of passengers by air, with or without
accompanied belongings (Only for Economy
class)
30
70
9.800
60
40
5.600
Other than Economy Class (means business
class /First class)
40
60
8.400
6
Renting of hotels, inns, guest houses, clubs,
campsites or other commercial places meant
for residential or lodging purposes.
40
60
8.400
7
Services of goods transport agency in relation
to transportation of goods.
70
30
4.200
8
9
Services provided in relation to chit
Renting of any motor vehicle designed to
carry passengers Including Radio taxi,
0
60
100
40
14.000
5.600
10
11
Transport of goods in a vessel
Services by a tour operator in relation to,(i) a package tour
70
75
30
25
4.200
3.500
(ii) a tour, if the tour operator is providing
services solely of arranging or booking
accommodation for any person in relation to a
tour
(iii) any services other than specified at (i) and
(ii) above.
Construction of a complex, building, civil
structure or a part thereof, intended for a sale
to a buyer, wholly or partly except where
entire consideration is received after issuance
of completion certificate by the competent
authority
(i)for residential unit having carpet area upto
2000 square feet or where the amount charged
is less than rupees one crore;
90
10
1.400
60
40
5.600
75
25
3.500
(ii) for other than the (i) above.
70
30
4.200
5
12
C
Valuation under rules
1 Service portion on execution of Works
Contract:
– Value of service excluding material
– Original Work
– Repairs and Maintenance of any goods
– Maintenance, Repairing, Completion Finishing of
immovable property
2 Restaurant Services
3 Outdoor Catering Services
100
40
70
70
14.000
5.600
9.800
9.800
40
60
5.600
8.400
D Increase in rates of service tax (in case of Composition scheme) for service provided by Air Travel agent,
Insurance service, Forex (money changing service) and service provided by lottery distributor and selling
agent.
Air Travel Agent:
In the case of
Domestic bookings of passage for
travel by air
International bookings of passage for
travel by air
Insurance Service:
Period
First year
Subsequent Year
Current Rate
0.6% of the basic fare
New Rate
0.7% of the basic fare
1.2% of the basic fare
1.4% of the basic fare
Current Rate
3% of the gross amount of
premium charged
1.5% of the gross amount of
premium charged
New Rate
3.5% of the gross amount of
premium charged
1.75% of the gross amount of
premium charged
Money Changing:
For an amount
Upto Rs.100,000
Current Rate
0.12% of the gross amount of currency
exchanged or Rs.30 whichever is
higher
New Rate
0.14% of the gross amount of
currency exchanged or Rs.35
whichever is higher
Exceeding Rs.1,00,000 and
upto Rs.10, 00, 000
Rs.120 + 0.06% of the (gross amount
of currency exchanged-Rs.1,00,000)
Exceeding Rs.10,00,000
Rs.660 + 0.012% of the (gross amount
of currency exchanged-Rs.10,00,000)
or Rs.6,000/- whichever is lower
Rs.140 + 0.07% of the (gross
amount of currency exchangedRs.1,00,000)
Rs.770 + 0.014% of the (gross
amount of currency exchanged Rs.10,00,000) or Rs.7,000/whichever is lower
Service provided by lottery distributor and selling agent:
Particulars
Current Rate
Where the guaranteed
Rs.7000/- on every Rs.10 Lakh (or part
lottery prize payout is >
of Rs.10 Lakh) of aggregate face value
80%
of lottery tickets printed by the
organising state for a draw.
Where the guaranteed
Rs.11000/- on every Rs.10 Lakh (or
lottery prize payout is <
part of Rs.10 Lakh) of aggregate face
80%
value of lottery tickets printed by the
organising state for a draw.
New Rate
Rs.8,200/- on every Rs.10 Lakh (or
part of Rs.10 Lakh) of aggregate face
value of lottery tickets printed by the
organising state for a draw.
Rs.12800/- on every Rs.10 Lakh (or
part of Rs.10 Lakh) of aggregate face
value of lottery tickets printed by the
organising state for a draw.
Note :
1. Abatement as shown in "B" above are subject to conditions ,which can be checked
from abatement Rate chart Here
2. Valuation of Works Contract is subject to few conditions which can be checked Here
3. Check Updated Version last updated 31.05.15(if any)
Changes in service Tax (Posts By CA Bimal Jain)
1.
2.
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18.
19.
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21.
22.
New Taxable Services from 01.06.2015
Increase in Service Tax rate to 14% Other Service Tax-CENVAT changes and Impact wef 01.06.2015
Changes in Central Excise and the Customs wef 14.05.2015 as Finance Bill, 2015 enacted
Service tax rate of 14% shall come into effect only from a date to be notified – Finance Bill, 2015
enacted
Rajya Sabha clears the Finance Bill, 2015 as approved by Lok Sabha
Dealer Registration NOT mandatory for transit sale :CBEC clarifies
Education Cess & SHEC can be used for payment of Excise Duty by Manufacturers
Key Takeaways of the Foreign Trade Policy, 2015-2020
UNION BUDGET 2015: CHANGES IN THE CENVAT CREDIT RULES, 2004 AND ITS IMPACT
INCREASE IN TIME LIMIT FOR AVAILING CENVAT CREDIT ON INPUT SERVICES AND
INPUTS – WHETHER APPLICABLE ON INVOICES ISSUED PRIOR TO MARCH 1, 2015?
INTEREST ON WRONG AVAILMENT OF CENVAT CREDIT BUT NOT UTILIZED :BUDGET
2015 CHANGES
DOUBTFUL FATE OF REFUND ON DEEMED EXPORTS
TAXABILITY OF NEWLY MADE ‘TAXABLE SERVICES’
UNION BUDGET 2015: CHANGES IN SERVICE TAX WITH EFFECTIVE DATES AND ITS
IMPACT
SERVICE TAX CHANGES APPLICABLE FROM THE DATE TO BE NOTIFIED AFTER DATE
OF ENACTMENT OF FINANCE BILL2015
Service Tax changes effective from 01.04.2015
SERVICE TAX CHANGES EFFECTIVE FROM 01.03.2015
HIKE IN RATE OF SERVICE TAX – OPEN ISSUES
IMPACT OF PARTIAL REVERSE CHARGE TO FULL REVERSE CHARGE ON MANPOWER
SUPPLY AND SECURITY SERVICES IN TRANSITION PERIOD
Subsequent reversal of Cenvat credit initially availed but not utilized, tantamount to non-availment of
Cenvat credit
Changes under Service Tax in Budget 2015 detailed Analysis Clause by Clause By CA Bimal Jain &
Team
CHANGES IN EXCISE & CUSTOM RATES /ACT BUDGET -2015 CLAUSE BY CLAUSE BY CA
BIMAL JAIN