Service tax rate increased from 12.36% to 14 %

The new service tax rate of 14 percent will come into effect from June 1. It includes all things from eating out in restaurants or insurance and phone bill expense.

Currently service tax levied at the rate 12.36 percent including education cess.

It includes advertising, air travel, services if architect, certain type of constructions, credit card, even management, and tour operator.

Government is concentrating on economy. It is required to boost Indian economy.

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