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Service tax rate left untouched; GST outreach programme to be launched

Currently, services are taxed at 14%. After cess, it works out to around 15%

BS Reporter  |  New Delhi 

tax, GST, I-T, income tax
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On road to goods and (GST), Finance Minister on Wednesday refrained from making any major changes in the indirect tax regime.

He did not go for the much-expected increase in rate to align with Currently, services are taxed at 14%. After cess, it works out to around 15%.

He said the government would launch an outreach programme with industry from April 1, 2017. Though Jaitley did not give any date for the roll-out of the new regime, M S Mani, senior director, indirect tax, Deloitte Haskins & Sells LLP, said:  “The reaffirmation of the Governments focus on was very reassuring and it now appears that the country is all set to move to from July 1.” 

Mani said the absence of any major changes in excise and confirms that we are "definitively moving" to from July 1, 2017. “The emphasis on groundwork already done in the FM’s speech including specific steps taken and proposed and the absence of any major changes in Excise and is a clear indication that we are going to see in India from 1st July 2017”.

He said businesses which had put preparation on the backburner will now need to undertake a crash course in getting ready as its introduction is imminent from July 1.

will subsume central and state levies like excise duty, service tax and VAT. The tax slabs so far are 5, 12, 18 and 28%. 

Service tax rate left untouched; GST outreach programme to be launched

Currently, services are taxed at 14%. After cess, it works out to around 15%

Currently, services are taxed at 14%. After cess, it works out to around 15% On road to goods and (GST), Finance Minister on Wednesday refrained from making any major changes in the indirect tax regime.

He did not go for the much-expected increase in rate to align with Currently, services are taxed at 14%. After cess, it works out to around 15%.

He said the government would launch an outreach programme with industry from April 1, 2017. Though Jaitley did not give any date for the roll-out of the new regime, M S Mani, senior director, indirect tax, Deloitte Haskins & Sells LLP, said:  “The reaffirmation of the Governments focus on was very reassuring and it now appears that the country is all set to move to from July 1.” 

Mani said the absence of any major changes in excise and confirms that we are "definitively moving" to from July 1, 2017. “The emphasis on groundwork already done in the FM’s speech including specific steps taken and proposed and the absence of any major changes in Excise and is a clear indication that we are going to see in India from 1st July 2017”.

He said businesses which had put preparation on the backburner will now need to undertake a crash course in getting ready as its introduction is imminent from July 1.

will subsume central and state levies like excise duty, service tax and VAT. The tax slabs so far are 5, 12, 18 and 28%. 
image
Business Standard
177 22

Service tax rate left untouched; GST outreach programme to be launched

Currently, services are taxed at 14%. After cess, it works out to around 15%

On road to goods and (GST), Finance Minister on Wednesday refrained from making any major changes in the indirect tax regime.

He did not go for the much-expected increase in rate to align with Currently, services are taxed at 14%. After cess, it works out to around 15%.

He said the government would launch an outreach programme with industry from April 1, 2017. Though Jaitley did not give any date for the roll-out of the new regime, M S Mani, senior director, indirect tax, Deloitte Haskins & Sells LLP, said:  “The reaffirmation of the Governments focus on was very reassuring and it now appears that the country is all set to move to from July 1.” 

Mani said the absence of any major changes in excise and confirms that we are "definitively moving" to from July 1, 2017. “The emphasis on groundwork already done in the FM’s speech including specific steps taken and proposed and the absence of any major changes in Excise and is a clear indication that we are going to see in India from 1st July 2017”.

He said businesses which had put preparation on the backburner will now need to undertake a crash course in getting ready as its introduction is imminent from July 1.

will subsume central and state levies like excise duty, service tax and VAT. The tax slabs so far are 5, 12, 18 and 28%. 

image
Business Standard
177 22