Rate of Service tax is as follows
- Section 66B , the charging section, has been amended to increase the rate of service tax from 12% to 14%.
- (Section 153 and Section 159 provided for Education Cess and Secondary and Higher Education Cess leviable.These have been abolished from 1.6.2015
- Section 119 of the Finance Act, 2015 has empowered the Central Government to impose a Swachh Bharat Cess on all or any of the taxable services at a rate of 2% on the value of such taxable services. But only 0.5% has been imposed wi th efect from 16.11.2015
For the purpose of November/December 2016 exams,14.5% rate is applicable