buget 2008-indirect tax
soni (service) (48 Points)
10 March 2008
please provide me all changes of indirect taxtation in buget 2008
5 Replies
Srinu Lanka
(working)
(25 Points)
Replied 10 March 2008
CST rate has been reduced from 3% to 2% with C form
Srinu Lanka
(working)
(25 Points)
Replied 10 March 2008
service tax rate has been increased from 2% to 4% for composition scheme under work contract service w.e.f 01.03.08
soni
(service)
(48 Points)
Replied 10 March 2008
what is meaning of compostion scheme under service tax? this scheme is same as in VAT?
please clarify.
Srinu Lanka
(working)
(25 Points)
Replied 11 March 2008
composition scheme means it is for contracts where material supply and installations, labour, other services included, basically this known as works contracts under state VAT acts.
it is same in the state VAT acts.
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