Recently, Department of Revenue has been issued a notification about change in service Tax Rate i.e. 14% w.e.f. 1st June, 2015. This new rate of service tax i.e., 14% definately increases expenses from 1st June. The detailsed Notification is as under:
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
NOTIFICATION
New Delhi, the 19th May, 2015
No. 14/2015-Service Tax
G.S.R. ---(E).- In exercise of the powers conferred by clauses (a), (c) and (f) of section 107, section 108, sub-sections (2), (3) and (4) of section 109, section 153 and section 159 of the Finance Act, 2015 (No. 20 of 2015), the Central Government hereby appoints the 1st day of June, 2015 as the date on which the provisions of clauses (a), (c) and (f) of section 107, section 108, sub-sections (2), (3) and (4) of section 109, section 153 and section 159 of the said Act shall come into force.
[F.No. 334/5/2015 - TRU]
(Akshay Joshi)
Under Secretary to the Government of India
