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buget 2008-indirect tax

soni (service) (48 Points)

10 March 2008

please provide me all changes of indirect taxtation in buget 2008

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Srinu Lanka (working) (25 Points)
Replied 10 March 2008

CST rate has been reduced from 3% to 2% with C form

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Srinu Lanka (working) (25 Points)
Replied 10 March 2008

service tax rate has been increased from 2% to 4% for composition scheme under work contract service w.e.f 01.03.08

soni (service) (48 Points)
Replied 10 March 2008

what is meaning of compostion scheme under service tax? this scheme is same as in VAT? please clarify.

Srinu Lanka (working) (25 Points)
Replied 11 March 2008

composition scheme means it is for contracts where material supply and installations, labour, other services included, basically this known as works contracts under state VAT acts. it is same in the state VAT acts.

(Guest)

please give me the aroximate figure which is affected by exemptions in this buget .By figure i mean revenu genrated due to direct tax ..

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