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    <title>BUDGET 2016-17 – CHANGES FFECTIVE FROM 01.03.2016</title>
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    <description>Exemptions for construction and related services for specified non commercial, educational, clinical, cultural and certain residential projects, and works for airports and ports are restored for contracts entered into before prior withdrawal, while exemption for monorail/metro construction is withdrawn for contracts from 1 March 2016. New exemptions cover specified PMAY/HFA components and certain IIM programmes. Media with recorded IT software is placed under excise with service tax exemption for non sale supplies. Amendments to Point of Taxation Rules, exclusion of certain sea transport from &quot;exempted service&quot; to permit input credit, revised Cenvat refund timelines for export of services, and altered rail transport abatement and input credit treatment are enacted.</description>
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      <description>Exemptions for construction and related services for specified non commercial, educational, clinical, cultural and certain residential projects, and works for airports and ports are restored for contracts entered into before prior withdrawal, while exemption for monorail/metro construction is withdrawn for contracts from 1 March 2016. New exemptions cover specified PMAY/HFA components and certain IIM programmes. Media with recorded IT software is placed under excise with service tax exemption for non sale supplies. Amendments to Point of Taxation Rules, exclusion of certain sea transport from &quot;exempted service&quot; to permit input credit, revised Cenvat refund timelines for export of services, and altered rail transport abatement and input credit treatment are enacted.</description>
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