12 new services to be in tax net

12 new services to be in tax netLower inflation may prompt a rates rise too. About a dozen new services are likely to be brought under the service tax net from fiscal 2008-09, even as the rate could be increased from 12 per cent. Last year, the government had considered raising the rate to 14 per cent but the move was shelved on account of fears of inflation, which was ruling at 6.5 per cent in January 2007.TAXING TIMESAll unaided non-government schools and colleges, unaided non-government hospi

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CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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