Revision in Service Tax Rate
The Service Tax rate change which was approved by the Govt of India on May 14th, 2016 will go into effect on June 1st, 2016. As part of this legislation, the effective rate of Service Tax has been increased from 14.5% to 15% on account of levy of Krishi Kalyan Cess (KKC) of 0.5%.
Due to this change, Service Tax @ 15% (including Swachh Bharat Cess and Krishi Kalyan Cess) will be applicable for all customers going forward. This will affect all invoices dated on or after June 1, 2016 for services provided by Nettigritty Private Limited.