After Standard & Poor’s, it’s the International Monetary Fund (IMF) which has disgraced governance issues to slow downing the business moderation project in economic growth affected investment, along with cyclical factors such as global uncertainty and policy tightening. Read more
Tag: Budget
Service tax net may broaden further
As per 2012 budgetary report, it is seeking that the government keep 22 services in the negative list as all kinds of economic activities, barring goods, money and immovable property as like construction, health, entertainment, restaurants, non-AC rail fares,transport, toll, betting and gambling.
All who are excepting to pay tax, now being charged on all 22 categories of services and impose 10 % on the rest. Govt. has clear stand on this step to add more services in the negative list of tax that is practiced globally and now introducing in India as part of the Goods and Services Tax (GST). It is expected that the negative list may introduce from the next fiscal (2012-13).
Adding more services in the negative list on which tax is charged, will hope to Centre to mop up Rs 82,000 crore for the current fiscal. Read more
