https://www.taxtmi.com/article/detailed?id=1169 Budget proposals restructure indirect taxation by expanding tax bases and rationalising rates to prepare for GST: a concessional excise rate is increased and a nominal duty imposed on many previously exempt consumer items without cenvat credit; customs duty bands are harmonised and self assessment for trade introduced; service tax scope expanded to new categories with valuation and CENVAT clarifications and point of taxation rules set on an accrual basis; administrative measures revise audit thresholds, penal provisions, interest rules and enforcement powers while advancing GST legislative and IT preparedness. en-us Tue, 01 Mar 2011 19:00:53 +0530 Sat, 14 Sep 2013 23:06:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1169 Budget proposals restructure indirect taxation by expanding tax bases and rationalising rates to prepare for GST: a concessional excise rate is increased and a nominal duty imposed on many previously exempt consumer items without cenvat credit; customs duty bands are harmonised and self assessment for trade introduced; service tax scope expanded to new categories with valuation and CENVAT clarifications and point of taxation rules set on an accrual basis; administrative measures revise audit thresholds, penal provisions, interest rules and enforcement powers while advancing GST legislative and IT preparedness. Articles Budget - Tax Proposals Tue, 01 Mar 2011 19:00:53 +0530 https://www.taxtmi.com/article/detailed?id=1169