Increase in Service Tax Rate w. e. f. 1 Jun 2015
The India Government has notified that the service tax rate will increase to 14% w. e. f. 1 June 2015.
The ‘Education Cess’ and ‘Secondary and Higher Education Cess’ shall be subsumed in the revised rate of Service Tax (together known as ’Cesses’). Thus, the effective increase in Service Tax rate will be from the existing rate of 12.36% (inclusive of cesses) to 14%, subsuming the cesses.
These changes come to effect from 1 Jun 2015 and accordingly Maersk Line will be charging a service tax of 14% on applicable charges in the invoices raised on or after 1 June 2015.
For any clarification on this matter you may write to your respective Maersk Line contact person.