Rate of Service Tax Reduces from 12% to 10% from 24th February 2009
Rate of Service Tax Reduces from 12% to 10%
The effective rate of Service Tax Reduces from 12% to 10% with effect from 24th February 2009.Central Government as per the NOTIFICATION NO 8/2009-STDated : February 24, 2009 exempts all the taxable services specified in sub-section 105 of section 65 of the Finance Act from so much of service tax leviable there on under section 66 of the Finance Act, as is in excess of the rate of ten per cent of the value of taxable services.