Union Budget 2016-17 Changes in Indirect Taxes

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Union Budget 2016-17 Changes in Indirect Taxes, Highlights of Union Budget 2016-17 on Indirect Taxes. Here we provide Complete details of Union Budget 2016-17, Find all details or Highlights of Union Budget 2016-17 on Indirect Taxes. Recently we also provide Highlights of Union Budget 2016-17 on Direct Taxes. Now you can scroll down below and check all Union Budget 2016-17 Changes in Indirect Taxes.

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Union Budget 2016-17 Changes in Indirect Taxes

Detailed Articles

* Propose changes in customs duty to push Make in India plan
* Exempt svc tax on general insurance plans in Nirmaya scheme
* Committed to implementing GAAR from Apr 1, 2017
* Asset recast cos’ income to be taxed at hands of investors
* Propose special patent regime to power innovation, research
* Services provided by EPFO exempted from service tax
* STT of 0.05% on options contracts
* Service tax waiver for houses of less than 60 sq mtr
* Service Tax exempt for svc under rural electrification plan
* To give excise duty exemption to ready-mix concrete
* Excise of 12.5% with input tax credit on jewellery
* To abolish 13 cesses by ministries
* To amend Central Value Added Tax credit rules
* To amend CENVAT credit rules
* Taxation panel to fix demand under retrospective tax cases
* Hope old cases on retrospective tax reach conclusion soon
* No retrospective taxation to be undertaken
* 1-time no-interest liability in retrospective tax cases
* To up excise duty on various tobacco products by 10-15%
* Cos incorporated post Mar 1 to be taxed at 25%+ surcharge
* Doubles clean energy cess on coal to 400 rupees/tn
* To up excise duty on some tobacco pdts by 10-15%
* Infra cess of 2% on diesel cars
* 4% infra cess on high capacity vehicles, SUVs
* To levy 1% infra cess on small petrol, LPG, CNG cars

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