Technoglitch
Core Member
1. Traveling in AC Coach
From toady onwards, travel in AC and first class will get costlier. The service tax in AC will scale up from 3.7% to 4.2% with a difference of 0.5 per cent. To be more precise, AC ticket of Rs 1000 will now get costlier by Rs 5.
2. Travel by Air
Domestic travel by flight will now be increased by Rs 10 per on thousand rupees whereas International flight will get costlier by Rs 20 per thousand rupees.
3. Telephone Bills
Talking to your loved ones is also going to cost more. Previously, the mobile/ landline bill was Rs 1,124 if you talked for Rs 1000 rupees but now you will have to pay Rs. 1, 1140 for the same.
4. Life Insurance
Life Insurance premium will experience a surge of 0.5 percent. On new insurance, the service tax tariff is revised from 3% to 3.5 % whereas from second year one will have to pay 1.75 % service tax, a 0.25% increase in the previous tariff of 1.5 per cent.
5. Eating in Restaurants
Service tax applicable on eating out in restaurant/hotels is revised from 4.944 % to 5.6 %.
Earlier, you had to pay a bill of Rs 1049 for eating food worth Rs 1,000. According to new rates, you will now have to pay a bill of Rs 1056 for the same.
6. Buying Property
While buying properties of worth less than one crore rupees, you will have to pay the service tax of 3.5 percent or 12.36 percent of 25% of the base price. If the property is worth more than one crore, the service tax payable is 4.2 per cent or 14 per cent of 30% of the base price.
The current hike in Service Tax is expected to raise the government's revenues by 24.76% to 2.09 lakh crore in 2015-16 compared to Rs 1.68 lakh crore earned in last fiscal year.
With government planning to add 2% tax for Swachch Bharat Mission in the Union Budget, the service tax might see an upward movement in the coming days. However, the proposal is not yet implemented in the existing tax regime.
14% Service Tax: Mobile calls, Traveling, Eating-out to cost more | IndiaTV News
From toady onwards, travel in AC and first class will get costlier. The service tax in AC will scale up from 3.7% to 4.2% with a difference of 0.5 per cent. To be more precise, AC ticket of Rs 1000 will now get costlier by Rs 5.
2. Travel by Air
Domestic travel by flight will now be increased by Rs 10 per on thousand rupees whereas International flight will get costlier by Rs 20 per thousand rupees.
3. Telephone Bills
Talking to your loved ones is also going to cost more. Previously, the mobile/ landline bill was Rs 1,124 if you talked for Rs 1000 rupees but now you will have to pay Rs. 1, 1140 for the same.
4. Life Insurance
Life Insurance premium will experience a surge of 0.5 percent. On new insurance, the service tax tariff is revised from 3% to 3.5 % whereas from second year one will have to pay 1.75 % service tax, a 0.25% increase in the previous tariff of 1.5 per cent.
5. Eating in Restaurants
Service tax applicable on eating out in restaurant/hotels is revised from 4.944 % to 5.6 %.
Earlier, you had to pay a bill of Rs 1049 for eating food worth Rs 1,000. According to new rates, you will now have to pay a bill of Rs 1056 for the same.
6. Buying Property
While buying properties of worth less than one crore rupees, you will have to pay the service tax of 3.5 percent or 12.36 percent of 25% of the base price. If the property is worth more than one crore, the service tax payable is 4.2 per cent or 14 per cent of 30% of the base price.
The current hike in Service Tax is expected to raise the government's revenues by 24.76% to 2.09 lakh crore in 2015-16 compared to Rs 1.68 lakh crore earned in last fiscal year.
With government planning to add 2% tax for Swachch Bharat Mission in the Union Budget, the service tax might see an upward movement in the coming days. However, the proposal is not yet implemented in the existing tax regime.
14% Service Tax: Mobile calls, Traveling, Eating-out to cost more | IndiaTV News
