TaxTMI 
TaxTMI 
TaxTMI 
SERVICE TAX - BUDGET HIGHLIGHTS
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....ERVICE TAX - BUDGET HIGHLIGHTS<br>By: - Brijesh Verma<br>Service Tax<br>Dated:- 28-2-2011<br><br>* No change in Service Tax Rate * No Change in threshold limits * Import of services have been rati....
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....onalized * Cenvat Credit Rules have been suitable amended to harmonize Input and Output Services * Penal provisions have been rationalized * Point of taxation Rules have been introduced * Cert....
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....ain New Service have been introduced * Hotel having daily tariff > Rs. 1000 (with abatement of 50%) * AC Restaurants serving Liquor (with abatement of 70%) * All services of hospitals having > 2....
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....5 Beds (with abatement of 50%) * Diagnostic Services (with abatement of 50%) * Legal Service has been amended to: * provided by Individuals to Business Entity * Individual to BE (in relation t....
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....o representation and Arbitration) * Rule 6 of Cenvat Credit Credit Rules is being Streamlined * Individuals/Sole Prop having < or = 60 Lakhs - no need for Audit by Department * Individuals/Sole ....
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....Prop having < or = 60 Lakhs - Interest on delayed payment @10% Budget documents are yet to be seen....so any mistake in figures may please be condoned....<br> Scholarly articles for knowledge sharing....
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.... by authors, experts, professionals ....