In respect of services relating toAir Travel Agent, Life Insurance service, Money changing service provided by banks or authorized dealers and Service provided by lottery distributor and selling agent the service provider has been allowed to pay service tax at an alternative rate subject to the conditions as prescribed under rule 6 (7), 6(7A), 6(7B) and 6(7C) of the Service Tax Rules, 1994. With effect from 1st June 2015, consequent to upward revision of service tax rate to 14%, the said alternative rates will also be revised proportionately. The revised rates are as follows:

S No. Name of Service Old Rate New Rate
1. Air Travel Agent(Domestic Bookings) 0.6% 0.7%
Air Travel Agent( International Bookings) 1.2% 1.4%
2. Life Insurance Business 3 % and 1.5 % 3.5 % and 1.75 % respectively.
3. Money Changer Service (a) 0.12 per cent. of the gross amount of currency exchanged for an amount upto rupees 100,000, subject to the minimum amount of rupees 30; and

(b) rupees 120 and 0.06 per cent. of the gross amount of currency exchanged for an amount of rupees exceeding rupees 100,000 and upto rupees 10,00,000; and

(c) rupees 660 and 0.012 per cent. of the gross amount of currency exchanged for an amount of rupees exceeding 10,00,000, subject to maximum amount of rupees 5000

(a) 0.14 per cent. of the gross amount of currency exchanged for an amount upto rupees 100,000, subject to the minimum amount of rupees 35; and

(b) rupees 140 and 0.07 per cent. respectively of the gross amount of currency exchanged for an amount of rupees exceeding rupees 100,000 and upto rupees 10,00,000; and

(c) rupees 770 and 0.014 per cent. Respectively of the gross amount of currency exchanged for an amount of rupees exceeding 10,00,000, subject to maximum amount of rupees 5000

4. Lottery distributor and selling
agent
Rs. 7,000/- & Rs. 10,000/- Rs. 8,200/- & Rs. 12,800/-
respectively.

 

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)

NOTIFICATION No 15/2015-ST, Dated: May 19, 2015

G.S.R. (E). – In exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby appoints the 1st day of June, 2015 as the date on which the provisions of sub-clauses (a), (b) and (c) and item (A) of sub-clause (d) of clause (ii) of sub-paragraph (e) of paragraph 2 of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 05/2015 – Service Tax, dated 1st March, 2015, published in the gazette of India, Extraordinary, vide number G.S.R. 159(E), dated 1st March, 2015 shall come into force.

[F. No.334/5/2015 -TRU]

(Akshay Joshi)
Under Secretary to the Government of India

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Tags : Budget (1956) Budget 2015-16 (272) service tax notifications (1086)

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