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Wednesday, 27 May 2015

Service Tax Rate will be 14% from 1st June



Rate of Service Tax will be 14% from 1st June 2015, instead of the 12.36% earlier. The new rate was proposed in the Budget and is now effective after the Finance Bill 2015 became a law post receiving President’s assent.
This is being done to bring the service tax rate in line with the overall GST implementation.

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