Is service tax still applicable in India?

The Government of India has levied the services taxes on the services rendered by restaurants. Service tax is one of many taxes that are now replaced by GST.

Is service tax abolished after GST?

Abolition of service tax: Service tax was abolished with the rollout of GST on July 1, 2017, as the new tax subsumed service tax in addition to many other indirect taxes.

What is the limit of service tax registration?

Although Service Tax is required to be paid only when the aggregate value of services provided exceeds Rs. 10 Lakhs in a financial year, the service tax provider is required to apply for Registration for Service Tax within 30 days of his turnover exceeding Rs. 9 Lakhs.

Who introduced service tax?

The Service Tax was introduced in India around 21 years back on July 1, 1994 at the recommendations of Dr. Raja Chelliah Committee on tax reforms. The introduction of this levy in India can be termed as milestone in Indian Tax history.

Is service tax and GST same?

Service tax was levied on “provision of services” while GST will be levied on supply of services.

Is service tax registration mandatory?

Service Tax registration is mandatory for every person or business in India that has provided a taxable service of value exceeding Rs. 9 lakhs, in the previous financial year.

What is the rate of service tax in FY 2014 15?

The rate of Service Tax was increased by the Ministry of Finance on May 14th 2015 and came into effect on June 1st 2015. The rate of Service Tax was increased from 12.36% to an all inclusive, flat 14%, which included Subsuming Education Cess and Secondary & Higher Secondary Education Cess.

What was the service tax rate in 2016 17?

Krishi Kalyan Cess, which was announced during the 2016–17 Budget, has become applicable from 1 June. A tax of 0.5% would be levied over and above the Service Tax and Swachh Bharat Cess. Till 31 May 2016, the Service Tax rate was 14.5%. With Krishi Kalyan cess, the service tax would increase to 15%.