|
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.
Sachin Kumar Mishra
+91-8130319600 , +91- 9012141689,91+9507810909
No comments:
Post a Comment