https://www.taxtmi.com/article/detailed?id=5487 The interim budget combines targeted tax and duty adjustments with institutional and investment measures while maintaining fiscal consolidation. It extends service tax exemption to activities related to rice storage and exempts cord blood bank services; reduces excise duties on major machinery chapters and for various automobile categories; restructures excise for mobile handsets to incentivise domestic production; and rationalises customs duties on selected industrial oils to promote oleochemical manufacturing. Several measures are temporary or reviewable at the regular budget and a Research Funding Organisation is proposed with tax eligible contributions. en-us Tue, 18 Feb 2014 07:50:18 +0530 Tue, 18 Feb 2014 07:50:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5487 The interim budget combines targeted tax and duty adjustments with institutional and investment measures while maintaining fiscal consolidation. It extends service tax exemption to activities related to rice storage and exempts cord blood bank services; reduces excise duties on major machinery chapters and for various automobile categories; restructures excise for mobile handsets to incentivise domestic production; and rationalises customs duties on selected industrial oils to promote oleochemical manufacturing. Several measures are temporary or reviewable at the regular budget and a Research Funding Organisation is proposed with tax eligible contributions. Articles Budget - Tax Proposals Tue, 18 Feb 2014 07:50:18 +0530 https://www.taxtmi.com/article/detailed?id=5487