26 June 2012
Lot of changes have come with effect from 01.07.12. First of all 1) All services are taxable except that is listed in the negative list 2) You have to see the abatement available for your serices 3) There is reverse charge mechanism, that is- certain services are brought for payment of service by service provider and service receiver % wise. 4) Monthly payment for those who paid tax more than Rs.25 lacs in last year 5) One page Monthly return for companies and more changes........
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