Service Tax - Current Affairs Questions and Answers

1)   As directed by Finance Ministry on 9th June’15 what kind of restaurants will not charge any service tax from the customers?

a. Self Service Restaurants
b. Serving Veg Food
c. Serving Fat Free Food
d. Non AC Restaurant
Answer  Explanation 

ANSWER: Non AC Restaurant

Explanation:
The restaurants without air conditioning facility will not charge any service tax from the customers while the ones with ACs will charge only on the 40 per cent of the total bill amount. Restaurants, eating-joints or messes, which do not have the facility of air-conditioning or central-heating in any part of the establishment, are exempt from service tax.


2)   From which day would the higher service tax of 14% that was proposed in the budget speech 2015 will be effective ______.

a. 31st May 2015
b. 30th June 2015
c. 30th May 2015
d. 1st June 2015
Answer  Explanation 

ANSWER: 1st June 2015

Explanation:
This increased service tax will be inclusive of an education cess.