A. Rate changes:
1. The rate of service tax is being restored to the statutory rate of 12% - same as goods-and Notification No. 8/2009-ST dated February 24, 2009 reducing the rate to 10% has been rescinded effective April 1, 2012. 2. Consequent changes have also been made in composition rates as follows:
1
i
For life insurance: 3% for the first year premiums while retaining the rate @1.5% for the subsequent