Budget 2016- Analysis of Service Tax provisions by BC

Increase in service tax rate through a new levy in the name of “Krishi Kalyan Cess” by 0.5%. Indirect tax Dispute Resolution Scheme, 2016 introduced. Monetary limit for launching prosecution increased from Rs. 50 lacs to Rs. 2 crore. The limitation period has been increased from 18 months to 30 months for issuance of demand notices.