Sandeep Ahuja & Co.

Established in the year 1986, we are a leading chartered accountancy firm based in Delhi & NCR rendering comprehensive professional services which include statutory audit, internal audit, direct tax, transfer pricing, GST, bank audit, propriety audit, cost accounting, internal financial controls and risk advisory.

Tuesday, June 2, 2015

Service Tax Rate Chart w.e.f. 1st June, 2015

Applicable Effective Rate
Abatement(%)
Taxable
(%)
1.4%


a. Financial leasing including hire purchase.
b. Service by a tour operator providing services solely of arranging or booking accommodation for any person in relation to a tour.
90

90
10

10
4.2%


a. Transport of goods and passengers by rail.
b. Services of goods transport agency in relation to transportation        of goods.
c. Transport of goods in a vessel.
d. 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 other than residential unit having carpet area upto 2000 square feet or where the amount charged is less than Rs 1 cr.
 
70
70

70

70
30
30

30

30
9.8%


a. Bundled service by way of supply of food or any other articles of 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
b. Service portion on execution of works Contract:
- Repairs and Maintenance of any goods
- Maintenance, Repairing ,Completion Finishing of immovable property
  
30




-

-
70




70

70
5.6%


a. Transport of passengers by air, with or without accompanied belongings (Only for Economy class).
b. Renting of any motor vehicle designed to carry passengers including Radio taxi.
c. Service portion on execution of works Contract: Original Work
d. Restaurant Services.
60

60

-
-
40

40

40
40
8.4%


a. Transport of passengers by air, with or without accompanied belongings (for business class/First class)
b. Renting of hotels , inns, guest houses , clubs, campsites or other commercial places meant for residential or lodging purposes
c. Outdoor Catering Services

40

40

-
60

60

60
3.5%


a. Service by a tour operator in relation to a package tour
b. 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 up to 2000 square feet or where the amount charged is less than Rs 1 crore.

75

75
25

25

Increase in rates of Service Tax (in case of Composition Scheme)

1. Air Travel Agent

In the case of
Current Rate
New Rate
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

2. Insurance Services

Period
Current Rate
New Rate
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

3. Money Changing

For an amount
Current Rate
New Rate
Upto Rs. 1 lac
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 lac and upto Rs. 10 lacs
Rs. 120 + 0.06% of the (gross amount of currency exchanged - Rs. 1 lac)
Rs.140 + 0.07% of the (gross amount of currency exchanged- Rs. 1,00,000
Exceeding Rs. 10 lac
Rs. 660 + 0.12% of the (gross amount of currency exchanged- Rs. 10 lac) or Rs. 6,000/- whichever is lower
Rs. 770 + 0.014% of the (gross amount of currency exchanged - Rs. 10 lac) or Rs. 7,000/- whichever is lower.

4. Lottery Distributor and Selling Agent

Particulars       
Current Rate
New Rate
Where the guaranteed lottery prize payout is > 80%
Rs. 7000/- on every Rs. 10 lac (or part of Rs. 10 lac) of aggregate face value of lottery tickets printed by the organising state for a draw
Rs. 8200/- on every Rs. 10 lac (or part of Rs. 10 lac) 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 lac (or part of Rs. 10 lac) of aggregate face value of lottery tickets printed by the organising state for a draw
Rs.12800/- on every Rs. 10 lac (or part of Rs.10 lac) of aggregate face value of lottery tickets printed  by the organising state for a draw

Service Tax rate for services not mentioned above: 14%

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