And what all was announced in budget this year will effect your life from today. you will have to shell out more while using mobiles, eating out and travelling as the service tax rate goes up to 14%. Finance minister Arun Jaitley in his budget had proposed to raise service tax from 12.36% to 14%. The proposal was to come in effect from June 1 i.e today. Click to know what all becomes costlier and what becomes cheaper.