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TMI BlogSERVICE TAX - BUDGET HIGHLIGHTSX X X X Extracts X X X X X X X X Extracts X X X X ..... SERVICE TAX - BUDGET HIGHLIGHTS X X X X Extracts X X X X X X X X Extracts X X X X ..... ionalized * Cenvat Credit Rules have been suitable amended to harmonize Input and Output Services * Penal provisions have been rationalized * Point of taxation Rules have been introduced * Cer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tain New Service have been introduced * Hotel having daily tariff > Rs. 1000 (with abatement of 50%) * AC Restaurants serving Liquor (with abatement of 70%) * All services of hospitals having > ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 25 Beds (with abatement of 50%) * Diagnostic Services (with abatement of 50%) * Legal Service has been amended to: * provided by Individuals to Business Entity * Individual to BE (in relation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to representation and Arbitration) * Rule 6 of Cenvat Credit Credit Rules is being Streamlined * Individuals/Sole Prop having < or = 60 Lakhs - no need for Audit by Department * Individuals/Sole ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Prop having < or = 60 Lakhs - Interest on delayed payment @10%
Budget documents are yet to be seen....so any mistake in figures may please be condoned.... X X X X Extracts X X X X X X X X Extracts X X X X ..... g by authors, experts, professionals ..... X X X X Extracts X X X X X X X X Extracts X X X X
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