As
you may aware of that Service tax rate has been increased with effect
from 1st June 2015 to 14%. However many services have abatements and discounts
under valuation schemes as well as under composition schemes are also
applicable ,so applicable effective rate is different for many services .
However there may be some conditions along with these abatements/composition
schemes .
We have summarised the effective
Service Tax rate wef 01.06.2015 in the table given below.
|
Service
Tax Rate Chart applicable from 01.06.2015
|
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|
Sr No.
|
Description of taxable service
|
Abatement %
|
Taxable %
|
Effective Rate %
|
|
1
|
2
|
3
|
4
|
5
|
|
A
|
All Services Not
Covered in B-D below
|
0
|
100
|
14.00
|
|
B
|
Services Covered Under
Abatement
|
|||
|
1
|
Financial
leasing including hire purchase
|
90
|
10
|
1.400
|
|
2
|
Transport
of goods by rail
|
70
|
30
|
4.200
|
|
3
|
Transport
of passengers, with or without accompanied belongings by rail
|
70
|
30
|
4.200
|
|
4
|
Bundled
service by way of supply of food or any other article of human consumption or
any drink, in a premises ( including hotel, convention
center, club, pandal, shamiana or any other place, specially
arranged for organizing a function) together with renting of such premises
|
30
|
70
|
9.800
|
|
5
|
Transport
of passengers by air, with or without accompanied belongings (Only for
Economy class)
|
60
|
40
|
5.600
|
|
Other
than Economy Class (means business class /First class)
|
40
|
60
|
8.400
|
|
|
6
|
Renting
of hotels, inns, guest houses, clubs, campsites or other commercial places
meant for residential or lodging purposes.
|
40
|
60
|
8.400
|
|
7
|
Services
of goods transport agency in relation to transportation of goods.
|
70
|
30
|
4.200
|
|
8
|
Services
provided in relation to chit
|
0
|
100
|
14.000
|
|
9
|
Renting
of any motor vehicle designed to carry passengers Including Radio taxi,
|
60
|
40
|
5.600
|
|
10
|
Transport
of goods in a vessel
|
70
|
30
|
4.200
|
|
11
|
Services by a tour
operator in relation
to,-
(i) a package tour
|
75
|
25
|
3.500
|
|
(ii) a
tour, if the tour operator is providing services solely of arranging or
booking accommodation for any person in relation to a tour
|
90
|
10
|
1.400
|
|
|
(iii) any services
other than specified at (i) and (ii) above.
|
60
|
40
|
5.600
|
|
|
12
|
Construction of a complex, building,
civil structure or a part thereof, intended for a sale to a buyer, wholly or
partly except where entire consideration is received after issuance of
completion certificate by the competent authority
|
|||
|
(i)for residential unit having
carpet area upto 2000 square feet or where the amount charged is less than
rupees one crore;
|
75
|
25
|
3.500
|
|
|
(ii)
for other than the (i) above.
|
70
|
30
|
4.200
|
|
|
C
|
Valuation
under rules
|
|||
|
1
|
Service portion on execution of
Works Contract:
|
|||
|
– Value of service excluding
material
|
100
|
14.000
|
||
|
– Original Work
|
40
|
5.600
|
||
|
– Repairs and Maintenance of any
goods
|
70
|
9.800
|
||
|
– Maintenance, Repairing,
Completion Finishing of immovable property
|
70
|
9.800
|
||
|
2
|
Air conditioned Restaurant
Services
|
40
|
5.600
|
|
|
3
|
Outdoor Catering Services
|
60
|
8.400
|
|
D:Rates of service tax (in case of Composition scheme) for service provided by Air Travel agent, Insurance service, Forex (money changing service) and service provided by lottery distributor and selling agent.
Air Travel Agent:
|
In
the case of
|
Old
Rate
|
New
Rate wef 01.06.15
|
|
Domestic
bookings of passage for travel by air
|
0.6%
of the basic fare
|
0.7%
of the basic fare
|
|
International
bookings of passage for travel by air
|
1.2%
of the basic fare
|
1.4%
of the basic fare
|
Insurance Service:
|
Period
|
Old
Rate
|
New
Rate wef 01.06.15
|
|
First
year
|
3%
of the gross amount of premium charged
|
3.5%
of the gross amount of premium charged
|
|
Subsequent
Year
|
1.5%
of the gross amount of premium charged
|
1.75%
of the gross amount of premium charged
|
Money Changing:
|
For
an amount
|
old
Rate
|
New
Rate wef 01.06.15
|
|
Upto
Rs.100,000
|
0.12%
of the gross amount of currency exchanged or Rs.30 whichever is higher
|
0.14%
of the gross amount of currency exchanged or Rs.35 whichever is higher
|
|
Exceeding
Rs.1,00,000 and upto Rs.10, 00, 000
|
Rs.120
+ 0.06% of the (gross amount of currency exchanged-Rs.1,00,000)
|
Rs.140
+ 0.07% of the (gross amount of currency exchanged-Rs.1,00,000)
|
|
Exceeding
Rs.10,00,000
|
Rs.660
+ 0.012% of the (gross amount of currency exchanged-Rs.10,00,000) or
Rs.6,000/- whichever is lower
|
Rs.770
+ 0.014% of the (gross amount of currency exchanged -Rs.10,00,000) or
Rs.7,000/- whichever is lower
|
Service provided by lottery
distributor and selling agent:
|
Particulars
|
Old
Rate
|
New
Rate wef 01.06.15
|
|
Where
the guaranteed lottery prize payout is > 80%
|
Rs.7000/-
on every Rs.10 Lakh (or part of Rs.10 Lakh) of aggregate face value of
lottery tickets printed by the organising state for a draw.
|
Rs.8,200/-
on every Rs.10 Lakh (or part of Rs.10 Lakh) of aggregate face value of
lottery tickets printed by the organising state for a draw.
|
|
Where
the guaranteed lottery prize payout is < 80%
|
Rs.11000/-
on every Rs.10 Lakh (or part of Rs.10 Lakh) of aggregate face value of
lottery tickets printed by the organising state for a draw.
|
Rs.12800/-
on every Rs.10 Lakh (or part of Rs.10 Lakh) of aggregate face value of
lottery tickets printed by the organising state for a draw.
|
Note :
1.
Abatement
as shown in "B" above are subject to conditions ,which can be checked
from abatement Rate chart Here
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