PAN card gets costlier by Re 1 after service tax hike
New Delhi, Jun 2 Getting a new PAN card has become costlier by a rupee in the wake of government hiking service tax rate to 14 per cent beginning this month.
Under revised charges, applicable from June 1, a Permanent Account Number (PAN) card, issued by the Income Tax department to an individual or entity to keep a track on all their financial activities, within the country will come at Rs 106 as compared to the earlier Rs 105.
Similarly, getting a new PAN shipped outside India will entail an additional expenditure of Rs 14 at Rs 985 from the earlier Rs 971 for the same.
“The Finance Bill, 2015 has proposed increase in the Service Tax rate from 12.36 per cent to 14 per cent. As a result, the effective service charge rate will be 14 per cent.
The new Service Tax will be effective from June 1, 2015,” an official order issued in this regard said.
PAN is a 10-digit unique alphanumeric number allotted by the I-T department to taxpayers and it has authorised two domestic organisations–UTIITSL and NSDL– to prepare them on its behalf. It is issued to an individual or entity in the form of a laminated plastic card.
Under the new rates for a PAN card to be obtained in India, the government will charge Rs 93 as the processing fee and the new Service Tax levied on its is Rs 13.02 which makes the new total of Rs 106.
In case of the PAN card to be sent abroad, the government will charge Rs 93 as processing fee, Rs 13.02 as Service Tax, Rs 771 as the courier charge and an additional Service Tax on the parcel service of Rs 107.94.
Source PTI http://www.ptinews.com/news/6101078_PAN-card-gets-costlier-by-Re-1-after-service-tax-hike-.html