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Finance Bill, 2014 enacted into Finance Act, 2014, Date of Enactment 06.08.2014Budget 2014-15 : Sale of space for advertising has been made taxable except for print media.Budget 2014-15 : Radio Taxis are now taxable.Budget 2014-15 : Education : The definition of Auxiliary Education Services has been scraped.Budget 2014-15 : Works Contract : 2 slab rates prescribed in place of earlier 3 slabs.Budget 2014-15 : E-payment of Service tax is being made mandatory with effect from 01.10.2014.Budget 2014-15 : POPS: Definition of intermediary is being amended to include the intermediary of goods in its scope.

Abatement - Before 01.07.2012
Taxable Service 
Abatement

A) Financial Leasing Service
90%
 
B) Chit Fund Related Service
30%
 
   
 
(Production of processing of parts and accessories of Cycle, Cycle Rickshaw and Hand operated Sewing-machine.)
30%
 
   

A) [Please Refer: Service Tax Notification No. 1/2006-ST dated 01-03-2006]
67%
B) [Please Refer: Service Tax Notification No. 29/2010-ST dated 22-06-2010]
75%
   

A) [Please Refer: Service Tax Notification No. 1/2006-ST dated 01-03-2006]
67%
B) [Please Refer: Service Tax Notification No. 29/2010-ST dated 22-06-2010] 75%
   

Convention Service

40%
 
   
67%
(If gross amount charged includes cost of goods and materials)
 
 
   
75%
 
   
Hotel Accommodation Service 50%
[Please Refer: Service Tax  Notification No. 34/2011-ST dated 25-04-2011]  
   
40%
 
   
50%
(If service charge includes charges for food)
 
 
   
30%
(If service charge includes catering charges)
 
 
   
60%
 
   
Restaurant Service 70%
[Please Refer: Service Tax  Notification No. 34/2011-ST dated 25-04-2011]]  
   
 
(A) Services provided by a tour operator in relation to a package tour
75%
(B) Service is provided solely for arranging or booking accommodation for any person in relation to a tour.
90%
(C) For services other than package tour and booking of accommodation
60%
 
 
   
70%
 

 

 
 

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