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View Full Version : Budget Highlights 2010-2011 Service & Excise Tax


megri
02-28-2011, 08:44 PM
Service & Excise Tax
1.Service Tax New services : AC bars, Hotel above Rs 1000 per day, health checkup, LIC services providers, Legal representative. Increased on Air travel.
2.Service Tax on air travel both domestic and international raised.
3.Reduction in number of exemptions in Central Excise rate structure.
4.General Excise Duty & Service tax remains 10%. Basic Excise rate raised from 4-5%.
5.Tax on all services provided by hospitals with 25 or more beds with facility of central air conditioning.
6.Optional levy on branded garments or made up proposed to be converted into a mandatory levy at unified rate of 10 per cent.
7.All individual and sole proprietor tax payers with a turnover up to Rs.60 lacs freed from the formalities of audit.