The journey of service tax has been a step-by-step progress that began in 1994 and will complete 18 years at the end of this month. The revenue has also increased from nearly Rs 400 crore in the first year to more than Rs 97,000crore in the last financial year, an increase of nearly 37% over 2010-11.

This year, the service tax rate has been raised by 2.0% to 12%....Read More

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