The Finance Bill 2007 got enacted on 11th May 2007 as president has given his assent to the bill.
From 11th May 2007 Service tax rate will be 12% + Education Cess is 2% on Service Tax (12%) +
1% Secondary and Higher Education Cess on Service Tax (12%) making the effective rate 12.36%.
This new rate is effective on all services provided on and after 11th May ,2007.
