Thursday, May 28, 2015

Revision of Service Tax on PLI w.e.f 01.06.2015 - PLI Directorate order

PLI Directorate decied to increase the service tax on PLI with effect from 01.06.2015. The rates of Service Tax got upward revision as under vide Government of India, Ministry of Finance, Department of Revenue Notification NO 5/2015-Service tax ct. 01-03-2015.

  •      Revised ST For First year Premium is 3.50% (from 3.09%)
  •     Revised ST for Renewal Premium is 1.75% (from 1.545%)

There will be no Cess on Service Tax

The revised rates of ST shall be applicable w.e.f 01.06.2015 as per Government of India, Ministry of Finance , Department of Revenue Notification No 15/2015- Service tax dt. 19.05.2015

The order issued by PLI Directorate regarding this subject is given below for reference.

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