Goods & Services Tax (GST) in IndiaService Tax Rate to Be 14.5% From 15th November 2015

November 7, 20150

With effect from 15th November, 2015, Swachh Bharat Cess will be levied .

The levy shall be at the rate of 0.5% of the Value of Taxable Services .

Swachh Bharat Cess will be levied in addition to existing Service Tax rate of 14%.

New Rate of Service tax shall be 14.5% .

The aforesaid changes have been brought under Notification No. 21/2015-Service Tax dated 06.11.2015 and Notification No. 22/2015-Service Tax dated 06.11.2015 .

It is pertinent to note that its a step forward to the GST Rate of 18% on Service Sector in GST Era .

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