New Service Tax Rate @ 14% incl. of Cess or 14.42%?

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  1. Sriti Jha

    Sriti Jha New Member

    Is the new Service Tax Rate of 14% inclusive of Education Cess & SHEC?

    Or Education Cess @ 2% and SHEC @1% would be added on 14% which will in turn make it 14.42%?
     
  2. Shishir Nayak

    Shishir Nayak Member

    Service Tax Rate is 14% inclusive of Education Cess & SHEC.
     
  3. rudrabose

    rudrabose Active Member

    The Education Cess and SHEC have been subsumed in the revised rate of Service Tax.

    Thus the effective increase in Service Tax is from 12.36% to 14% subsuming the cesses.

    Therefore, the new Service Tax Rate would be 14%
     
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