25 July 2012
As we all know, notification no. 01/2006 is rescinded w.e.f. 01/07/2012 by vide notification no. 34/2012 dated 20/06/2012.
That means benefit of abatement of 75% will be available upto 30/06/2012. OK? Am i right?
And what will be thereafter (after 01/07/2012)? after 01/07/2012 tax will be 4 times? that means entire tax of 12.36% of Rs. 100? No abatement will be there of 75%? or any other notification is issued in this behalf?
CAclubindia
