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Rail fares, eating out, mobile bills likely to get more expensive from April 1
Whatever good or bad news the Budget 2016-17 may roll out for common man, but what seems likely that service tax rate will move north from the existing 15 percent( inclusive of Krishi Cess and Swach Bharat Cess).
New Delhi: Whatever good or bad news the Budget 2016-17 may roll out for common man, but what seems likely that service tax rate will move north from the existing 15 percent( inclusive of Krishi Cess and Swach Bharat Cess).
As per BTV news report, service tax may go up by 0.50 percent percent in the upcoming budget. The existing service tax rate is 14 percent. With 0.50 percent of Krishi and Swach Bharat Cess, the effective service tax becomes 15 percent.
BTV also added that GST regime which is expected to kick off from July 1, 2017, services will be taxed at 18 percent.
So, in effect the cost of availing all services like package tours, mobile bills, transport and travel by rail and air, buying a house, cab services, gymming, beauty parlours etc, all are likely to rise further very soon.