Union Government levying the Swachh Bharat cess turned out to be a bitter pill for consumers as the service tax rate has gone up to 14.5 percent from 14. The rule came into effect from November 16th!
Reportedly, Centre is hopeful of pocketing not less than Rs 10,000 crore per year by implementation of Swachh Bharat bess. In that case, The revenue could be somewhere between Rs 3,800 to Rs 4,000 crore for the four-and-a-half months of the current financial year.
Service Tax on Restaurant Bills rise 5.8 percent from 5.6 percent due to 0.5 percent Swachh Bharat cess. For air-conditioned restaurants, Service Tax would be 14.5 percent of 40 percent of the billed amount.
Revenue generated through Swachh Bharat cess will be allocated to PM Narendra Modi's cleanliness drive.
Reportedly, Centre is hopeful of pocketing not less than Rs 10,000 crore per year by implementation of Swachh Bharat bess. In that case, The revenue could be somewhere between Rs 3,800 to Rs 4,000 crore for the four-and-a-half months of the current financial year.
Service Tax on Restaurant Bills rise 5.8 percent from 5.6 percent due to 0.5 percent Swachh Bharat cess. For air-conditioned restaurants, Service Tax would be 14.5 percent of 40 percent of the billed amount.
Revenue generated through Swachh Bharat cess will be allocated to PM Narendra Modi's cleanliness drive.