New Service Tax Rate effective from 01-06-2016 After enactment of the Finance Act 2016 (No. 28 of 2016) the effective rate of Service Tax w.e.f. 01-06-2016 is increased from 14.50% to 15% (14% ST+ 0.50% Swachh Bharat Cess + 0.50% Krishi Kalyan Cess) by way of introducing Krishi Kalyan Cess @ 0.50% on value of taxable services. Accordingly, the rate of ST shall be 15% w.e.f. 01-06-2016 from existing effective rate of 14.50%. Read also: Changes in Service Tax by Union Budget 2016-17 (Finance Act 2016) The above changes shall have impact on the levy of existing (14.50%) and revised ST rate (15%) on the continuing works as well as on works completed but not billed. The summarized illustrative position of applicable rate
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