Sunday, September 30, 2012

NO SERVICE TAX ON RAILWAY TICKETS ISSUED BEFORE OCTOBER 1, 2012

The railways ministry has made partial modification in levy of service tax on passenger fares in the AC classes/first class from October 1, 2012. The ministry clarified on Friday that service tax of 3.7% on passenger fares will not be levied on tickets issued and booked before October 1, 2012. Therefore, for people who bought tickets in advance, the service tax would not be collected on board, an official release said.

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