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Union Budget 2017: Service tax to be hiked to 16-18%

  • Union Budget 2017, Arun Jaitley, Union Finance Minister, RBI
    Finance Minister Arun Jaitley leaves after an all-party meeting ahead of the budget session at Parliament House

    Finance Minister Arun Jaitley may hike service tax rate to 16-18 per cent from the current 15 per cent in the Budget, due, as a precursor to the Goods and Services Tax (GST) rollout.

  • Union Budget 2017, Arun Jaitley, Union Finance Minister, RBI
    Finance Minister Arun Jaitley leaves after an all-party meeting ahead of the budget session

    The move, that will make flying, eating out, phone bills and a host of other services expensive, would be an attempt to take the rates closer to the proposed tax slabs for GST.

  • Union Budget 2017, Arun Jaitley, Union Finance Minister, RBI
    Arun Jaitley leaves after an all-party meeting ahead of the budget session

    GST, which will subsume central and state levies like excise duty, service tax and VAT, is scheduled to be rolled out from July 1.

  • Union Budget 2017, Arun Jaitley, Union Finance Minister, RBI
    Finance Minister Arun Jaitley leaves after an all-party meeting ahead of the budget

    The tax slabs decided for the GST are 5, 12, 18 and 28 per cent and taking service tax closer to one of the slabs is a logical move in the Budget, tax experts said.

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