May 31, 2015 9:02 PM

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Service tax to go up to 14 % from tomorrow

Service tax will go up to 14 percent from Monday.Some of the key services that will attract higher tax and hence become costlier are railways, airlines, banking, insurance, mobile, advertising, architecture, construction, credit cards, event management and tour operators.According to railway ministry officials, fares for First Class and AC classes in passenger trains, besides freight charges, will go up by 0.5 per cent from tomorrow. Finance Minister Arun Jaitley in his Budget had proposed to raise service tax from 12.36 per cent, including education cess, to 14 per cent. The tax is levied on all services, except a small negative list.

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