India's 2012-2013 Budget: Service Tax Rate Hike to 12%, Expanded Tax Base, Negative List Approach Introduced.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....India's 2012-2013 budget saw an increase in the service tax rate to 12%, alongside an expansion of the tax base. A negative list approach was introduced, specifying services exempt from taxation, thereby broadening the scope of taxable services.....