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  • Legal and Regulatory Aspects of Bank - 2 (JAIIB)
  • What is the rate of service tax?
Multiple choice

What is the rate of service tax?

  1. 15%

  2. 12%

  3. 7.5%

  4. 14%

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A Correct answer
Explanation

Budget 2016 has proposed to impose a cess, called the Krishi Kalyan Cess, @ 0.5% on all taxable services. The new effective service tax could henceforth be 15%. 

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