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Highlights of Budget 2014-2015 – Service Tax

Some of the important amendments are as under:

  1. W.E.F. 01-10-2014, E-Payment of Service Tax is being made mandatory for all the assessees, irrespective of liability of Service Tax.
  2. W.E.F. 01-10-2014, Rates of Interest for delayed payment of service tax is increased slab wise with maximum of 30% for delayed payment beyond one year.
  3. W.E.F. 11-07-2014, Service Tax @ 4.944% would be applicable on Services provided by air conditioned contract carriage (e.g. Neeta Volvo, Eagle, Patel Travels).
  4. It is proposed to tax Selling of Space for Advertisement on Internet websites, out-of-home media, on film screen in theater, hoardings, billboards, conveyances, buildings, cell phones, ATMs, Tickets, commercial publication, aerial advertising etc W.E.F. date to be notified later.
  5. It is proposed to tax Services provided by Radio Taxis and Radio Cabs W.E.F. date to be notified later.

attachmentHighlights of Budget 2014-2015 – SERVICE TAX

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