[aaykarbhavan] Swachh Bharat Cess at 0.5% from 15th November, 2015

Swachh Bharat Cess (SBC) levied @0.5% of the value of taxable services w.e.f. 15-11-2015 - Thus, the effective rate of service tax will be 14.5%

Dear All,

The Central Government vide Notification No. 21/2015-ST and 22/2015-ST dated 6^th November, 2015 shall implement Swachh Bharat Cess (SBC) at the rate of 0.5% of Value of taxable services w.e.f 15-11-2015.

Hence the effective rate of service tax shall be 14.5%.

Further, pursuant to Section 119(5) of Chapter VI of Finance Act, 2015 all provisions of Chapter V of the Finance Act, 1994 and the rules made thereunder shall apply to SBC as well.

Swachh Bharat Cess shall not be leviable on services which are exempt from service tax by a notification issued under sub-section (1) of section 93 of the Finance Act, 1994 or otherwise not leviable to service tax under section 66B of the Finance Act, 1994.

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Thanks & Regards,

CA Ankit Gulgulia (Jain)

+91-9811653975

311, D-MALL, Netaji Subhash Place, Pitampura, New Delhi – 110034

 

 

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Posted by: "Ankit Gulgulia" <ankitgulgulia@gmail.com>

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