Service tax came into effect in 1994 when its introduced by Dr. Manmohan Singh. It’s levied by the central government and the end users have to pay this for certain services. While presenting the Budget 2015, the Finance Minister had increased the Service Tax Rate from 12.36% to 14% with effect from 1st June 2015. … Read More » "Service tax rate applicable in India"
Budget 2016 has been presented on 29th February 2016 by our honorable finance minister Mr. Arun Jaitley. Below is a list of amendments that are related to service tax. Exemption withdrawn Following exemptions are to be withdrawn Exemption with respect to construction, erection, commissioning or installation of original works pertaining to monorail or metro … Read More » "Service tax amendments in budget 2016 and applicability"