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    Nov 17, 2015

    Service tax calculator after Swachh Bharat Cess introduced

    Service tax rate is increased indirectly after introduction of Swachh Bharat Cess on receipts at 0.5%. So indirectly service tax rate is increased from 14% to 14.5%. There are many other points too which needs to know. ( FAQs on Swachh Bharat Cess).

    So there is an excel based calculator to calculate service tax amount including Swachh Bharat Cess.

    There are many points to remember

    •        Swachh bharat cess is not available for cenvat credit

    •        Threshold limit of service tax is 10 lakhs.

    •        Service tax rate is 14% from 1 June 2015.

    •        Swachh Bharat cess is applicable on service at 0.5% from 15 November 2015.

    •        Service covered in special valuation provision the effective rate will be calculated with 14.5%. For example the effective rate of tax on GTA service would be 14.5%*30=4.35% and not 14%*30=4.2%.
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