Services have increased from now, and it will instantly affect on your pocket. So get ready to spend some more money on the government taxes as the government increased service tax. Read the full article to know the sequences of it and how it will affect you.
All the consumers have to dole out an additional 0.5% for several services.Last time, the total services tax was raised around 2% and hiked 14 per cent from 12.36 per cent.
Air travel, services, movies, eating, mobile and some of the luxury cars will get costlier from today. It will announce today in the Budget kick.
Now service taxes will be charged 15%. This hike will push up prices of all the retail products, and services that are used almost like air travel, movie tickets, restaurant meals, telecom, credit card, electricity and mobile bills.
service tax increase
Million of the people is going to affect by this hike services. They spend most of their income on the services will feel the pinch. Modi government hiked two times earlier. Now it’s the third time when the service tax is lifted on everything.
We all remembered about the last budget when Arun Jaitley raised the service tax rate from 12.36% to 14%. Central Government announced that revenue collected through the Krishi cess would now use for the financing initiatives which is related to the improvement in the welfare of farmers and services for them.
They will use the revenue money for the well-being of farmers. Finance Minister Arun Jaitley confirmed this news to everyone.
Prices of some luxury cars like Skoda Superb, VW Jetta, M&M’s XUV 500, Hyundai’s Elantra, Toyota Corolla Altis, Honda Accord will increase from today.
The price of petrol rises 2.58 litre and the diesel by 2.26 a litre. Now the rate of petrol will cost Rs65.60 per litre in Delhi and diesel will cost Rs53.93 per litre.
