According to latest news, the Maharashtra government on Wednesday announced a 10 percent hike in the entertainment duty on movie tickets priced above Rs 250. Read more
Tag: Service Tax
Indian Railways not to impose service tax from July 1, says Railway Minister Mukul Roy
The railway fares that had been hiked from July1under the new service tax regime, has postponed by Prime Minister Manmohan Singh by three months, on request of Railway Minister Mukul Roy, according to source report.
“No hike has been effected on rail passenger fares from Sunday,” an official told reporters on Monday. Read more
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
Govt. reveals list of services to be kept out of tax
On Friday, The Pranabh Mukherjee, Finance Minister of India, took out a list from his bag of public services. Such a list is showing a hope to be tax free.
Non-air conditioned second class train travel, health facilities, metro and monorail, public transport buses, metered taxis and three-wheelers, preschool and recognized education providers are among services, which are proposed to be kept out of the service tax net. Read more
