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What is the Service Tax rate for FY 2016 17?

What is the Service Tax rate for FY 2016 17?

From the 1st of June 2016, service tax is levied at 15% of the value of taxable services under Section 66 of the Service Tax Act. The 15% includes 0.5% Krishi Kalyan Cess and 0.5% Swach Bharat Cess.

What is the rule of Service Tax?

Under Rule 4A of the Service Tax Rules, 1994, it is compulsory for a service tax assessee to issue a bill or invoice within 14 days from the date on which the taxable service was completed or the date on which the payment was received for the service, whichever comes first. The amount of service tax payable.

What was the Service Tax rate in 2017 18?

The service tax rate was increased from 12.36% to 14% and the new rate subsumed a couple of cesses in the process. Note: Service Tax has been replaced by the Goods and Services Tax (GST) starting 1 July 2017.

What were tax brackets in 2016?

2016 Income Tax Brackets The Federal income tax has 7 brackets: 10%, 15%, 25%, 28%, 33%, 35%, and 39.6%. The amount of tax you owe depends on your income level and filing status. It’s important to understand that moving into a higher tax bracket does not mean that all of your income will be taxed at a higher rate.

When can I use the 2016 tax calculator?

The Tax Calculator is for Tax Year 2016: 01/01/2016 – 12/31/2016. You can no longer eFile 2016 Tax Returns. Use this Tax Calculator before you complete, sign, download, print and mail in the 2016 Tax Forms to the IRS. Click to access the State 2016 Forms.

How do I estimate my 2015 tax return?

Use the 2015 Tax Calculator tool below to estimate your 2015 Tax Return. Follow these simple steps and you will get estimated results on whether or not you owe taxes. Here are the 2015 Tax Year IRS forms for you to complete and mail in: 2015 Tax Return Forms.

Will I get a tax refund for 2015?

It looks like you are not getting a Tax Refund, nor will you owe additional Taxes. The 2015 Tax Return filing and e-file deadlines have passed. You can still file your 2015 Tax Return to claim a Tax Refund. Now, you can only prepare and mail in the paper 2016 Tax Forms to the IRS. Tax Tip: Even if you have back taxes owed for 2015,…