Applicabillty of finance bill, 2012

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sourabh (Querist)
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18 May 2012 Respected Sir,

I am little confused regarding the applicability of proposed changes in Finance Bill, 2012 regarding Service Tax.

I request you to solve my query.

Regarding Hotels/Restaurants Industry, abatement has been reduced in Finance Bill,2012. I want to know that whether this change of reducing abatement will be
applicable from 1st April, 2012 or later notified date
Whether this finance bill is required to be approved by Presindent of India?
When this assent is usually given and from which date it will be applicable ?

Thanks

Arun Gulati

Arun Gulati (Expert)
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19 May 2012 from the notified date.

yes, it is get approval of president of india, which will be approved by 31st may, 2012. Thereafter, date will be notified for negative list.