Education Cess

GST on the anvil: Budget can clear the air over input tax credit, unutilised education cess

The biggest focus of the government is to finalise all contentious issues between Central and States and placing GST model laws for final approval of both Houses of Parliament

Eating out, holidays, phone calls to cost more from today as service tax raised to 14%

Some of the key services that will attract higher tax and hence become costlier are: railways, airlines, banking, insurance, advertising, architecture, construction, credit cards, event management and tour operators.

Pay more to fly, eat out: New service tax regime of 14% from 1 June

The service tax is currently levied at the rate 12.36 percent including education cess.

Budget 2015: In push for growth, FM to cut corporate tax rate to 25% in 4 yrs

The reduction in the corporate tax rate will result in a higher level of investment and higher level of growth

Budget 2013: 10% surcharge on taxable income exceeding Rs 1 cr

The finance minister said that he proposed to increase the surcharge from 5 percent to 10 percent on domestic companies whose taxable income exceeds Rs 10 crore a year.