Service tax hike becomes effective from today

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New Delhi | Published: June 1, 2015 9:32:51 PM

The cost of services will increase from today as the Service Tax hike from the previous 12.36 percent to 14 percent becomes effective, in accordance to Union Finance Minister Arun Jaitley's Budget proposal.

The cost of services will increase from today as the Service Tax hike from the previous 12.36 percent to 14 percent becomes effective, in accordance to Union Finance Minister Arun Jaitley’s Budget proposal.

According to reports, some of the services that have become costlier include airlines, banking, insurance, mobile, advertising, architecture, construction, credit cards, event management and tour operators.

Meanwhile, fares for First Class and AC coaches in passenger trains, as well as freight charges have increased by 0.5 percent.

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