The Delhi High Court has ruled that commercial renting of premises will not attract service tax , in a move that will cheer India Incfighting a slowdown but leave the central government about Rs 8,000 crore poorer every year.The Centre will challenge the order in the Supreme Court, said a government official who did not wish to be identified.
Read more »Government to move Supreme Court on service tax on commercial rent
http://economictimes.indiatimes.com –
Govt cuts service tax, excise as alarm bells ring on state of finances
http://www.indianexpress.com –
Barely a week after it cited Constitutional propriety to justify no new fiscal measure, the Government today provided a massive Rs 30,000-crore boost to the slowing economy by slashing thecentral excise duty and service tax rates by 2 percentage points each...
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