https://www.taxtmi.com/circulars?id=53461 Budget 2002-2003 proposals rationalise indirect tax structure: excise rates moved toward 16% CENVAT with specific items reclassified, textile levies restructured (12% on processed fabrics and garments, withdrawal of certain exemptions, abolition of optional compounded levy), narrowed permitted power use for hand-processed fabrics, petroleum duty composition revised and regional concessions for North East refineries; customs peak rate set at 30% with targeted duty adjustments, Transfer of Residence limits increased and exemption-clarifying powers expanded; service tax coverage widened to multiple new services and corporate banking providers, with obligations on commissioners to identify assessees and submit price data under prescribed formats. en-us Thu, 28 Feb 2002 00:00:00 +0530 Sat, 09 May 2015 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53461 Budget 2002-2003 proposals rationalise indirect tax structure: excise rates moved toward 16% CENVAT with specific items reclassified, textile levies restructured (12% on processed fabrics and garments, withdrawal of certain exemptions, abolition of optional compounded levy), narrowed permitted power use for hand-processed fabrics, petroleum duty composition revised and regional concessions for North East refineries; customs peak rate set at 30% with targeted duty adjustments, Transfer of Residence limits increased and exemption-clarifying powers expanded; service tax coverage widened to multiple new services and corporate banking providers, with obligations on commissioners to identify assessees and submit price data under prescribed formats. Circulars Service Tax Thu, 28 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53461