Budget 2016-2017Service Tax Rate To Increase in Budget 2016

February 27, 20160

AMLEGALS before 2015  budget , hinted that an increase in the  rate of service tax is on the card and also hinted for further revision in mid of 2015 and both the times the service tax rate was increased .

In this budget of 2016-2017,we are again predicting an increase in service tax rate .This time the service tax rate will increase due to a compulsion that service industry have to be prepared ,well in advance ,before a regime of GST where the tax rate shall be around  17-18%.

Hence, in this budget, the service tax rate may increase by 1-1.5 % or so.

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