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of <h1>2011 Budget Proposes Service Tax Changes: New Taxes on Restaurants, Accommodations; Revised Compliance Rules and Penalties.</h1> The circular outlines legislative changes proposed in the 2011 Budget concerning service tax, effective upon enactment. New services subject to tax include air-conditioned restaurants with liquor licenses and short-term accommodations. Existing services, such as authorized service stations, life insurance, and legal services, will see expanded definitions. Compliance mechanisms are revised to encourage voluntary compliance, with increased penalties for non-compliance. Changes in the Cenvat Credit Rules and Service Tax Rules are detailed, affecting input and input services definitions. Exemptions are granted for specific services, and amendments to export and import service rules are introduced. The circular emphasizes the importance of accurate compliance and provides contact information for further inquiries.
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