https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Notification_4_of_2015.pdf

SERVICE TAX Effective Service Tax Rates applicable from 01/06/2015 -

Sr No.	Taxable service	Taxable Value	New Rate w.e.f. 01/06/2015	Condition
1	Financial leasing including hire purchase	10%	1.4%	NIL
2	Transport of goods by rail	30%	4.2%	NIL
3	Transport of passengers with or without accompanied belonging by rail	30%	4.2%	NIL
4	Supply of food or any other article of human consumption or any drink, in a premises (including hotel, convention center, club, pandal, shamiana or any place specially arranged for organizing a function) together with renting of such premises	70%	9.8%	Note(i)
5	Transport of passengers by air, with or without   accompanied belongings	40%	5.6%	Note(ii)
6	Renting of hotels , inns, guest houses, clubs, campsites, or other commercial places meant for residential or lodging purposes	60%	8.4%	Note(ii)
7	Services of goods transport agency	30%	4.2%	Note(iii)
8	Renting of any motor vehicle designed to carry passengers	40%	5.6%	Note(iii)
9	Transport of goods in vessel	30%	4.2%	Note(iii)
10	(i)           Tour service –package tour	25%	3.5%	Note(iii)&(iv)
	(ii)         Tour service –service solely of arranging or booking accommodation for any person in relation to a tour	10%	1.4%	Note(iii), (v)&(vi)
	(iii)       Tour service – simple tour services	40%	5.6%	Note(iii)&(iv)
11	Construction of a complex , building, civil structure or a part thereof, intended for a sale to a buyer, wholly or partly
	(i)           for a residential unit having carpet area upto 2000 square feet and the amount charged is less than rupees one crore	25%	3.5%	Note (vii)&(viii)
	(ii)         for other than (i) above	30%	4.2%	Note (vii)&(viii)

Note:

(i) cenvat  credit on any goods classifiable under  chapters  1to22 of Central Excise Tariff  Act,1985 used for providing the taxable service, has not been taken.

(ii) cenvat credit on inputs and capital goods, used for providing the taxable service , has not been taken .

(iii)  cenvat credit on inputs, capital goods and input services , used for providing the taxable service, has not been taken .

(iv)  The bill issued for this purpose indicates that it is inclusive of charges for such a tour.

(v) The invoice bill or challan issued indicates that it is towards the charges for such accommodation.

(vi) This exemption shall not apply in such cases where the invoice, bill or challan issued by the tour operator, in relation to a tour, only includes the service charges for arranging or booking accommodation for any person and does not include the cost of such accommodation.

(vii) Cenvat credits on inputs used for providing the taxable service has not been taken.

(viii) The value of land is included in the amount charged from the service receiver.

Sr no	Taxable service	Taxable Portion of Total Value	Effective Rate
12	Types of works contracts
	(i) Execution of original works	40%	5.6%
	(ii) In cases not covered above including maintenance or repair or reconditioning or restoration or servicing or any goods	70%	9.8%
	(iii)Other works including maintenance, repair , completion and finishing services such as glazing , plastering, floor and wall tilling , installation of electrical fittings of an immovable property	70%	9.8%

 Notes:

(i) “total amount” means the sum total of the gross amount charged for the works contract and the fair market value of all goods and services supplied in or in relation to the execution of the works contract, whether or not supplied under the same contract , after deducting (i)the amount charged for such goods or services , if any and (ii)the value added tax or sales tax ,if any , levied thereon.

(ii) The fair market value of goods and services so supplied may be determined in accordance with the generally accepted accounting principles.

(iii) cenvat credit of duty of excise paid on any inputs , used in or in relation to the said works contract is not allowable.

Sr No	Taxable service	Taxable Portion of Total Value	Effective Rate
13	Supply of food and drinks in restaurant or outdoor catering
	(i)                 Service provided by Restaurants	40%	5.6%
	(ii)               Services provided by outdoor caterer	60%	8.4%

 Notes:

(i) “Total amount” means the sum total of the gross amount charged and fair market value of all goods and services supplied in or in relation to the supply of food or any other article of human consumption or any other drink (whether or not in intoxicating), whether or not supplied under the same contract or any other contract, after deducting (i) the amount charged for such goods or services, if any and (ii) the value added tax or sales tax, if any, levied thereon.

(ii) The fair market value of goods and services so supplied may be determined in accordance with the generally accepted accounting principles.

(iii)    cenvat credit of duties or cess paid on any goods classifiable under chapter 1 to 22 of the central excise tariff act, 1985 is not allowable.

Sr. No.	Taxable service	Revised rates of service tax
14	Booking of air tickets by air travel agent	Domestic booking 0.7% International booking -1.4%
15	Life insurance service	First year -3.5% Subsequent year – 1.75%
16	Money changing service
	(i) Gross amount of currency exchanged for an amount upto Rs. 100,000	0.14% or Minimum Rs. 35/-
	(ii) Gross amount of currency exchanged for an amount of rupees exceeding Rs. 100,000 and up to Rs. 10,00,000	Rs. 140 and 0.07%
	(iii)  Gross amount of currency exchanged for an amount of rupees exceeding Rs. 10,00,000	Rs. 770 and 0.014% or maximum of Rs. 7,000/-
17	Service provided by Lottery distributor and selling agent a)      If the lottery or lottery scheme is one where the guaranteed prize payout is more than 80% b)      If the lottery or lottery scheme is one where the guaranteed prize payout is less than 80%	Rs. 8,200 on every Rs. 10 Lakh or part of Rs. 10 Lakh of aggregate face value of lottery tickets printed by the organizing State for a draw. Rs. 12,800 on every Rs. 10 Lakh or part of Rs. 10 Lakh of aggregate face value of lottery tickets printed by the organizing State for a draw

 Normal Service tax rate with effect from 1st June 2015 is 14%. However applicable rate is different for many services which may be subject to fulfillment of some conditions. This is mainly due to material value or non-service element included in total value of these services. This Chart will provide the effective rates on such services. 

                                                                                              

                                                  sachincpr@blogspot.com

                                      Sachin Kumar Mishra

                  +91-8130319600 , +91- 9012141689,91+9507810909    

14% Service Tax rate not with effect from 1st April 2015

OFFICE OF THE COMMISSIONER
CUSTOMS, CENTRAL EXCISE AND SERVICE TAX
KNDRIYAUTPADSHULKHBHAWAN, TElANGKHEDI ROAD
CIVIL LINES, NAGPUR-440001

It is brought to the notice of the Public that the new Service Tax rate of 14% has been proposed In the Finance Bill, 2015 by the Humble Finance Minister on 28-02-2015. The new Service Tax rate 14% is not effective immediately and shall come into effect only from a date to be notified later. The existing rate of Service Tax is 12.36% (Inclusive Cess.

es)

It has come to the notice of this office that though the new Service Tax rate of 14% has not yet been given effect, some of the service tax providers have started billing & recovering the amount of Service Tax at the rate of 14% from their customers. This practice is not only completely illegal but amounts to collecting consideration from the general public which is not so required to be collected as Service Tax.

It is therefore appealed to, bring any­such instance to the notice of Customs, Central Excise & Service Tax Department. The details of the nominated officers of the Department for Vidarbha Region for this purpose are, as under

Name S/Shri	A.V.Deshmukh	P.A.Thakur	A.B.Chakrovorty
Designation	Assistant Commissioner
Commissionerate	Nagpur-I	Nagpur-II	Wardha
Office Phone No.	0712-2560596
Mobile No.	9527544868	9822624258	9890223720

This office looks forward to your co-operation in this regard.

HELP US TO HELP YOU.

(Ashish Chandan)
Commissioner

    

                                                                           Regards 

                                                                   Sachin Kumar Mishra 

Section 68, 69, 69A, 69B and 69C of Income Tax Act,1961

Section 68 -Cash creditsSection  69-Unexplained investmentsSection 69A-Unexplained money, etc
Section 69B -Amount of investments, etc., not fully disclosed in books of account
Section 69C- Unexplained expenditure, etc
Comparison between section 68, section 69, section 69A, section 69B and section 69C: -

                                                                   

Particulars	Section 68	Section 69	Section 69A	Section 69B	Section 69C
Plain reading	Where any sum is found credited in the books of an assesseemaintained for any previousyear, and the assessee offers no explanation about the nature and source thereofor the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the sum so credited maybe charged to income- tax as the income ofthe assesseeof that previous year.	Where in the financial year immediately preceding the assessment year the assessee has made investments which are not recorded in the books of account, if any, maintained by him for any source of income, andthe assessee offers no explanation about the nature and source of the investments orthe explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the value of the investmentsmay be deemed to be the income of the assessee of such financial year.	Where in any financial year the assessee is found to be the owner of any money,bullion, jewelry or other valuable article and such money, bullion, jewelry or valuable article is not recorded in the books of account, if any, maintained by him for any source of income, andthe assessee offers no explanation about the nature and source of acquisition of the money, bullion, jewelry or other valuable article, or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the money and the value of the bullion, jewelry or other valuable article may be deemed to be the income of the assessee for such financial year.	Where in any financial year the assessee has made investments or is found to be the owner of any bullion, jewelry or other valuable article, and the Assessing Officer finds that the amount expended on making such investments or in acquiring such bullion, jewelry or other valuable article exceeds the amount recorded in this behalf in the books of accountmaintainedby the assessee for any source of income, andthe assessee offers no explanation about such excess amount or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the excess amount maybe deemed to be the income of the assessee forsuch financial year.	Where in any financial year an assessee has incurred anyexpenditure andhe offers no explanation about the source of such expenditure or part thereof, orthe explanation, if any, offered by him is not, in the opinion of the Assessing Officer, satisfactory, the amount covered by such expenditure or part thereof, as the case may be, may bedeemed to be the income of the assessee for such financial year. Provided that, notwithstanding anything contained in any other provision of this Act, such unexplained expenditure which is deemed to be the income of the assessee shall not be allowed as a deduction under any head of income.
Maintenance of Books of Accounts	Compulsory	Not Compulsory as the word “if any” is used	Not Compulsory as the word “if any” is used	Compulsory	Not Compulsory
Explanation to AO	AO can ask for explanation only when the sum is credited in the Books of Accounts	AO can ask for explanation only ifinvestmentis not recorded in the Books of Accounts.	AO can ask for explanation only if Money, bullion, jewelry or any other valuable article is not recorded in the Books of Accounts.	AO can ask for explanation only if the investment, Money, bullion, jewelry or any other valuable article is recorded in the Books of Accounts and the value recorded is less than the amount spent in acquiring.	AO can ask for the source of “incurred expenditure”.

                                                   

Regards 

Sachin Kumar Mishra Voice :- + 91  813 031 96 00