Wednesday, May 4, 2011

SERVICE TAX

Service Tax is a tax which one need to pay on the services we get, like on the cellular phone bill we need to pay the service tax and the service provider will pay it to the central government. It is altogether different with the sales tax as the sale tax is collected by the state government but service tax is the matter of center. The rates of service tax in the past 10 years changed dramatically sometimes up and sometime down. So remembering the rates of service tax is a difficult task and often question asked on the site about the rate of service tax on that assessment year or the current financial year. This is complete table for the rates of service tax from the beginning till now as well as surcharge, education cess and Secondary and higher education cess.

Service tax Dates Service tax rates Education cess Secondary and higher education cess Total servive tax percentage
16-07-2001 to 13-05-2003

5% 5%
14-05-2003 to 09-09-2004

8% 8%
10-09-2004 to 17-04-2006

10% 2% 10.20%
18-04-2006 to 11-05-2007

12% 2% 12.24%
12-05-2007 to 23-02-2009

12% 2% 1% 12.36%
24-02-2009 to Now 10% 2% 1% 10.30%

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