As you may aware of that Service tax rate has been increased with effect from 1st June 2015 to 14%. However many services have abatements and discounts under valuation schemes as well as under composition schemes are also applicable ,so applicable effective rate is different for many services . However there may be some conditions along with these abatements/composition schemes .
Please note that Education Cess (2%) Secondary & Higher education cess (1%) is not applicable wef 01.06.2015.
List of service on which Swach Bahart Cess applicable and effective date of Swach Bahart Cess is not notified Yet
Please note that Education Cess (2%) Secondary & Higher education cess (1%) is not applicable wef 01.06.2015.
List of service on which Swach Bahart Cess applicable and effective date of Swach Bahart Cess is not notified Yet
We have summarised the effective Service Tax rate wef 01.06.2015 in the table given below.Further you may download this chart in PDF format ,download Link is given at the end of the Post.
Service Tax Rate Chart applicable from 01.06.2015
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Sr No.
|
Description of taxable service
|
Abatement %
|
Taxable %
|
Effective Rate %
|
1
|
2
|
3
|
4
|
5
|
A
|
All Services Not Covered in B-D below
|
0
|
100
|
14.00
|
B
|
Services Covered Under Abatement
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1
|
Financial leasing including hire purchase
|
90
|
10
|
1.400
|
2
|
Transport of goods by rail
|
70
|
30
|
4.200
|
3
|
Transport of passengers, with or without accompanied belongings by rail
|
70
|
30
|
4.200
|
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
|
30
|
70
|
9.800
|
5
|
Transport of passengers by air, with or without accompanied belongings (Only for Economy class)
|
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
|
Services provided in relation to chit
|
0
|
100
|
14.000
|
9
|
Renting of any motor vehicle designed to carry passengers Including Radio taxi,
|
60
|
40
|
5.600
|
10
|
Transport of goods in a vessel
|
70
|
30
|
4.200
|
11
|
Services by a tour operator in relation to,- (i) a package tour
|
75
|
25
|
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
|
90
|
10
|
1.400
| |
(iii) any services other than specified at (i) and (ii) above.
|
60
|
40
|
5.600
| |
12
|
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
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(i)for residential unit having carpet area upto 2000 square feet or where the amount charged is less than rupees one crore;
|
75
|
25
|
3.500
| |
(ii) for other than the (i) above.
|
70
|
30
|
4.200
| |
C
|
Valuation under rules
| |||
1
|
Service portion on execution of Works Contract:
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– Value of service excluding material
|
100
|
14.000
| ||
– Original Work
|
40
|
5.600
| ||
– Repairs and Maintenance of any goods
|
70
|
9.800
| ||
– Maintenance, Repairing, Completion Finishing of immovable property
|
70
|
9.800
| ||
2
|
Air conditioned Restaurant Services
|
40
|
5.600
| |
3
|
Outdoor Catering Services
|
60
|
8.400
| |
D: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
|
Old Rate
|
New Rate wef 01.06.15
|
Domestic bookings of passage for travel by air
|
0.6% of the basic fare
|
0.7% of the basic fare
|
International bookings of passage for travel by air
|
1.2% of the basic fare
|
1.4% of the basic fare
|
Insurance Service:
Period
|
Old Rate
|
New Rate wef 01.06.15
|
First year
|
3% of the gross amount of premium charged
|
3.5% of the gross amount of premium charged
|
Subsequent Year
|
1.5% of the gross amount of premium charged
|
1.75% of the gross amount of premium charged
|
Money Changing:
For an amount
|
old Rate
|
New Rate wef 01.06.15
|
Upto Rs.100,000
|
0.12% of the gross amount of currency exchanged or Rs.30 whichever is higher
|
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)
|
Rs.140 + 0.07% 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.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
|
Old Rate
|
New Rate wef 01.06.15
|
Where the guaranteed lottery prize payout is > 80%
|
Rs.7000/- 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.
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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.
|
Where the guaranteed lottery prize payout is < 80%
|
Rs.11000/- 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 :
- Abatement as shown in "B" above are subject to conditions ,which can be checked from abatement Rate chart Here
- Valuation of Works Contract is subject to few conditions which can be checked Here
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