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buget 2008-indirect tax
please provide me all changes of indirect taxtation in buget 2008
Replies (5)
CST rate has been reduced from 3% to 2% with C form
service tax rate has been increased from 2% to 4% for composition scheme under work contract service w.e.f 01.03.08
what is meaning of compostion scheme under service tax? this scheme is same as in VAT?
please clarify.
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.
please give me the aroximate figure which is affected by exemptions in this buget .By figure i mean revenu genrated due to direct tax ..
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