https://www.taxtmi.com/article/detailed?id=1190 Union Budget 2011 significantly expands the service tax net and alters compliance: two new taxable services (air conditioned alcohol serving restaurants and short term accommodation) with specified abatements; broadened scope of multiple service categories (including motor vehicle services, life insurance investment management, coaching, clubs, business support, legal and health services); targeted exemptions and SEZ refund mechanics defining "wholly consumed" services and pro rata refunds; introduction of Point of Taxation Rules shifting tax to accrual; and major Cenvat Credit and penalty/interest reforms including fixed credit restrictions for financial and insurance sectors. en-us Sat, 05 Mar 2011 15:38:57 +0530 Sat, 14 Sep 2013 23:06:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1190 Union Budget 2011 significantly expands the service tax net and alters compliance: two new taxable services (air conditioned alcohol serving restaurants and short term accommodation) with specified abatements; broadened scope of multiple service categories (including motor vehicle services, life insurance investment management, coaching, clubs, business support, legal and health services); targeted exemptions and SEZ refund mechanics defining "wholly consumed" services and pro rata refunds; introduction of Point of Taxation Rules shifting tax to accrual; and major Cenvat Credit and penalty/interest reforms including fixed credit restrictions for financial and insurance sectors. Articles Budget - Tax Proposals Sat, 05 Mar 2011 15:38:57 +0530 https://www.taxtmi.com/article/detailed?id=1190