{"id":188,"date":"2015-07-11T07:03:16","date_gmt":"2015-07-11T07:03:16","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=188"},"modified":"2020-10-17T08:05:16","modified_gmt":"2020-10-17T08:05:16","slug":"summary-of-effective-rate-of-service-tax-in-case-of-valuation-and-abatement","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/summary-of-effective-rate-of-service-tax-in-case-of-valuation-and-abatement\/","title":{"rendered":"SUMMARY OF EFFECTIVE RATE OF SERVICE TAX IN CASE OF VALUATION AND ABATEMENT"},"content":{"rendered":"

SUMMARY<\/span> OF EFFECTIVE RATE OF SERVICE TAX IN CASE OF VALUATION AND ABATEMENT<\/span><\/strong>\u00a0 \u00a0 \u00a0<\/span> \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/em><\/h2>\n

The advancement of rate of Service Tax from 12.36% to 14% shall have a consequent effect on tax rates of all the services\u00a0covered under abatement and valuation. For an easy reference of the rate of Service Tax applicable in case of certain services, following table can be referred:-<\/p>\n

Rate of Service Tax applicab<\/span>le<\/span><\/span><\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Sr. No.<\/strong><\/td>\nTaxable Service<\/strong><\/td>\nOld Effective Rate<\/strong><\/td>\nNew Effective rate w.e.f 01\/06\/2015<\/strong><\/td>\n<\/tr>\n
1<\/td>\nFinancial leasing including hire purchase.<\/td>\n1.236%<\/td>\n1.4%<\/td>\n<\/tr>\n
2<\/td>\nTransport of goods by rail.<\/td>\n3.708%<\/td>\n4.2%<\/td>\n<\/tr>\n
3<\/td>\nTransport of passengers with or without accompanied belonging by rail.<\/td>\n3.708%<\/td>\n4.2%<\/td>\n<\/tr>\n
4<\/td>\nSupply 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<\/td>\n8.652%<\/td>\n9.8%<\/td>\n<\/tr>\n
5<\/td>\nTransport of passengers by air, with or without \u00a0 accompanied belongings.<\/td>\n4.944%<\/td>\n5.6%<\/td>\n<\/tr>\n
6<\/td>\nRenting of hotels , inns, guest houses, clubs, campsites, or other commercial places meant for residential or lodging purposes.<\/td>\n7.416%<\/td>\n8.4%<\/td>\n<\/tr>\n
7<\/td>\nServices of goods transport agency<\/td>\n3.708%<\/td>\n4.2%<\/td>\n<\/tr>\n
8<\/td>\nRenting of any motor vehicle designed to carry passengers<\/td>\n4.944%<\/td>\n5.6%<\/td>\n<\/tr>\n
9<\/td>\nTransport of goods in vessel<\/td>\n3.708%<\/td>\n4.2%<\/td>\n<\/tr>\n
10<\/td>\n(i)\u00a0\u00a0Tour service \u2013package tour<\/td>\n3.09%<\/td>\n3.5%<\/td>\n<\/tr>\n
(ii)\u00a0Tour service \u2013service solely of arranging or booking accommodation for any person in relation to a tour<\/td>\n1.236%<\/td>\n1.4%<\/td>\n<\/tr>\n
(iii)\u00a0Tour service \u2013 simple tour services<\/td>\n4.944%<\/td>\n5.6%<\/td>\n<\/tr>\n
\u00a011<\/td>\nConstruction<\/span> of a complex , building, civil structure or a part thereof, intended for a sale to a buyer, wholly or partly\u00a0<\/span><\/strong><\/td>\n<\/tr>\n
(i)\u00a0\u00a0\u00a0For a residential unit having carpet area upto 2000 square feet and the amount charged is less than rupees one crore<\/td>\n3.09%<\/td>\n3.5%<\/td>\n<\/tr>\n
(ii)\u00a0\u00a0For other than (i) above<\/td>\n3.708%<\/td>\n4.2%<\/td>\n<\/tr>\n
12<\/td>\n(i) Execution of original works<\/td>\n4.944%<\/td>\n5.6%<\/td>\n<\/tr>\n
(ii) In cases not covered above including maintenance or repair or reconditioning or restoration or servicing or any goods<\/td>\n8.652%<\/td>\n9.8%<\/td>\n<\/tr>\n
(iii)\u00a0Other works including maintenance, repair , completion and finishing services such as glazing , plastering, floor and wall tilling , installation of electrical fittings of an immovable property<\/td>\n8.652%<\/td>\n9.8%<\/td>\n<\/tr>\n
13<\/td>\nSupply of food and drinks in restaurant or outdoor<\/span> catering<\/span><\/strong><\/td>\n<\/tr>\n
(i)\u00a0 Service provided by Restaurants<\/td>\n4.944%<\/td>\n5.6%<\/td>\n<\/tr>\n
(ii)\u00a0Services provided by outdoor caterer<\/td>\n7.416%<\/td>\n8.4%<\/td>\n<\/tr>\n
14<\/td>\nBooking of air tickets by air travel agent<\/td>\n0.60%\u00a0of basic fare<\/td>\nDomestic booking 0.7%<\/td>\n<\/tr>\n
1.2%.\u00a0of basic fare<\/td>\nInternational booking -1.4%<\/td>\n<\/tr>\n
15<\/td>\nLife insurance service<\/td>\n3% \u00a0of Premium Charged<\/td>\nFirst year -3.5%<\/td>\n<\/tr>\n
1.50% \u00a0of Premium Charged<\/td>\nSubsequent year \u2013 1.75%<\/td>\n<\/tr>\n
16<\/td>\nMoney changing service<\/span><\/strong><\/td>\n<\/tr>\n
(i) Gross amount of currency exchanged for an amount uptoRs. 100,000<\/td>\n0.12% of gross amount of\u00a0currency exchanged(min.Rs.30) –<\/td>\n0.14% or Minimum Rs. 35\/-<\/td>\n<\/tr>\n
(ii) Gross amount of currency exchanged for an amount of rupees exceeding Rs. 100,000 and up to Rs. 10,00,000<\/td>\nRs.120 + 0.06% of gross\u00a0amount exceeding 1 lakh<\/td>\nRs. 140 and 0.07%<\/td>\n<\/tr>\n
(iii)\u00a0 Gross amount of currency exchanged for an amount of rupees exceeding Rs. 10,00,000<\/td>\nRs.660 + 0.012% of gross amount\u00a0exceeding 10 lakhs (max. Rs.6000)<\/td>\nRs. 770 and 0.014% or Maximum of Rs. 7,000\/-<\/td>\n<\/tr>\n
17<\/td>\nService provided by Lottery distributor and selling agent<\/span><\/strong><\/td>\n<\/tr>\n
a)\u00a0\u00a0If the lottery or lottery scheme is one where the guaranteed prize payout is more than 80%<\/td>\nRs. 7,000\/- on every Rs. 10 Lakh (or part of Rs. 10 Lakh) of aggregate face value of lottery tickets printed by the organising State for a\u00a0draw<\/td>\nRs. 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.<\/td>\n<\/tr>\n
b)\u00a0\u00a0\u00a0\u00a0\u00a0 If the lottery or lottery scheme is one where the guaranteed prize payout is less than 80%<\/td>\nRs. 11,000\/- on every Rs. 10 Lakh (or part of Rs. 10 Lakh) of aggregate face value of lottery tickets printed by the organising State for a\u00a0 \u00a0draw<\/td>\nRs. 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<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact: info@caindelhiindia.com<\/a>\u00a0or call at\u00a0011-233 433 33<\/p>\n

\n","protected":false},"excerpt":{"rendered":"

SUMMARY OF EFFECTIVE RATE OF SERVICE TAX IN CASE OF VALUATION AND ABATEMENT\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0 The advancement of rate of Service Tax from 12.36% to 14% shall have a consequent effect on tax rates of …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[146,116],"tags":[555,566,502,501,569,572,546,561,541,562,472,560,550],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/188"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=188"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/188\/revisions"}],"predecessor-version":[{"id":1231,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/188\/revisions\/1231"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}