The following are few of the important changes will be applicable from 1st June 2015 in respect of Service Tax :-
1) Rate of Service tax has been changed from 12% to 14%
2) Education Cess & Secondary Education Cess removed
3) The definition of ‘chit’ has been omitted from the abatement notification 26/2012
4) Negative List – Process amounting to manufacture or production of goods excludes alcoholic liquor for human consumption withdrawn.
5) Admission to exhibition of cinematograpic film, circus, dance, theartical performance, including drama or ballet, recognised sporting event exempted.
6) Award function, concert, pagent, musical performance, sporting event other than recognised sporting event exempted provided consideration is not more than Rs. 500/-