<Tr> <Td> 2012--2013 </Td> <Td> 132518 </Td> <Td> Negative List Regime </Td> <Td> 1712617 </Td> </Tr> <P> Service Tax which started out at a nominal 5% is now at 15% . </P> <P> It was increased to 14% for transactions that happened on or after 1 June 2015 and then for transactions that occurred on or after 15 Nov 2015, the new Swachh Bharat Cess at 0.5% was also added to the Service Tax . Therefore, the effective rate became 14.5% with effect from 15 Nov 2015 . </P> <P> For transactions that occurred on or after 1 June 2016 this tax is at 15% . 2016 Union budget of India has proposed to impose a cess, called the Krishi Kalyan Cess, at 0.5% on all taxable services effective from 1 June 2016 . The current service tax is at 15% . </P>

What is service tax discuss the basics of service tax in india