Service Tax stands at 14% from today

People will have to shell out more from Monday while using mobiles, eating out and travelling as the service tax rate goes up to 14 per cent. Finance Minister Arun Jaitley in his Budget had proposed to raise service tax from 12.36 per cent (including education cess) to 14 per cent. The proposal takes effect from June 1. The tax is levied on all services, expect a small negative list.