Taxation

service tax changes effective from 01.04.2015 (1st April 2015)

following changes in service tax will be effective from 01.04.2015

-Abatement rate in case of Goods transport service has been reduced from 75% to 70%.Hence effective rate of service tax will be 3.708% (earlier it was 3.09%)

-In case of manpower supply service,the service receiver should pay 100% of service tax on Reverse charge mechanism(earlier it was 75% of service tax).

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