Q:hi , I have been informed by the builder the as per the new notification of the service tax department , under group housing society , they have entitled to only 70% rebate , on 30% value they are required to pay service tax , means the new taxes in 4.5% (15%*30%) irrespective of the value of the flat , however as per the Govt notification , it should be 25% , and value of the tax would be 3.75% hence please guide me what is correct
Latest Answer: Yes, the new service tax chart would be :- Service tax Basic rate-14%,
Swachh Bharat Cess-0.5%w.e.f from 15.11.2015,
Krishi Kalyan Cess-0.5% w.e.f. from 01.06.2016
Total service tax rate-15%
