No Tags Found!

sagar.modi11
34

The new service tax rate of 14% will come into effect from 1 June, in a move that will make eating out in restaurants, insurance and phone bills expensive, among many other things.
The service tax is currently levied at the rate 12.36% including education cess. The new rate of 14% announced by finance minister Arun Jaitley in his budget for 2015-16 would come into effect from 1 June.
Service tax is levied on all services, expect a small negative list. Advertising, air travel, services of architect, certain type of constructions, credit card, even management, and tour operator are some of the important services, which attract tax.

From India, Ahmadabad
nathrao
3131

Service tax is applicable on 40% of bill amount and not total bill.40*14/100=5.6.
VAT will vary from state to state.
Suppose your bill is = Rs1000,
then service changes(tips)10%= 100
Service tax 5.6% 61.6(rounded off) 62
Add VAT 12.5% 137.5
Final bill=1299.5 = 1300
30 % higher than food bill.

From India, Pune
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.