UNION BUDGET HIGHLIGHTS 10-11 - MUST WATCH

Page no : 4

khalid attarwala (Student) (408 Points)
Replied 26 February 2010

Opposition walks out of Parliament over petrol price hike Petrol prices to go up Fresh services to be brought under service tax Service tax to GDP ratio 1% Service tax to result in net revenue gain of Rs 3000 cr

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jatin vasant (student) (51 Points)
Replied 26 February 2010

1.Kasab's jail cell cost Rs.5.2cr

Mohd Javed Khan (CA FINAL) (622 Points)
Replied 26 February 2010

Gold gets cheaper
Petrol, Diesel to be expensive
Mobile phones to be cheaper
Large cars, SUVs to cost more
Petro products, cigarettes to be expensive
Fertilisers to be costlier after the reduction in subsidy
High fuel prices added to inflation: Pranab
Pranab Mukherjee said the govt would initiate action to bridge the gap between wholesale and retail prices.
Govt promises to tackle food inflation in budget
Calls for fiscal discipline have gained urgency as inflation is forecast by some economists to reach 10 percent in coming weeks as high food prices fuel broader inflation expectations.

Vishnu Nair (Chartered Accountant) (935 Points)
Replied 26 February 2010

Budget Flashes

12:45 Excise on locally refined gold at Rs 280/gram

12:45 Basic customs duty on gold ore reduced

12:45 5% duty, project import status for MSOs

12:43 Not to levy import tax on some equipment in road proj

12:42 Uniform, concessional 5% duty on all medical appliances

12:42 Customs duty rationalized on music, gaming, software

12:39 Businesses with Rs 60 lakh turnover have to audit a/c

12:37 Excise duty on CFL halved to 4%

12:36 Central excise on LED lights cut to 4%

12:35 Rs 50/t cess on Indian coal

12:34 To raise central excise on non-petro products to 10%

12:28 Increased excise duty on all non-smoking tobacco

12:28 Excise on cigars, cigarettes to go up

12:27 CET on petro products hiked by Re 1

12:27 Partial rollback of excise duty on large cars

12:27 Partial rollback of excise duty on cement, cement products

12:24 Excise duty hiked to 10% vs 8%

12:23 Professionals with Rs 15 lakh income need account audit

12:22 Weightage deduction on R&D increased to 200%: Ernst & Young

12:18 Weighted deduction from 150% to 200% for in-house R&D

12:17 Surcharge for companies reduced to 7.5% from 10%

12:17 MAT increased to 18%

12:16 10% tax for income between Rs 1.6-5 lakh

12:16 Nil tax for Rs 1.6 lakh income

12:10 Borrowing plan to be decided in consultation with RBI

12:10 FY11 net market borrowing pegged at Rs 3.45 lakh cr

12:09 FY11 net market borrowing pegged at Rs 3.45 lakh crore

12:09 To continue with practice of oil, fert subsidy in cash

12:08 FY10 fiscal deficit revised to 6.9% of GDP

12:07 FY13 fiscal deficit pegged at 4.1%

12:10 FY11 net market borrowing pegged at Rs 3.45 lakh cr

12:09 FY11 net market borrowing pegged at Rs 3.45 lakh crore

12:09 To continue with practice of oil, fert subsidy in cash

12:08 FY10 fiscal deficit revised to 6.9% of GDP

12:07 FY13 fiscal deficit pegged at 4.1%

12:07 FY12 fiscal deficit pegged at 4.8% of GDP

12:07 FY11 fiscal deficit pegged at 5.5% of GDP

12:06 Total expenditure this fiscal at Rs 11.87 lakh crore

12:05 Revised estimate for tax collection at Rs 7.47 lakh cr

12:02 Defence allocation at Rs 1.47 lakh cr

12:02 To soon finalise symbol for Indian Rupee

12:02 Allocated Rs 1,900 cr for UID project

12:01 UID authority to issue 1st set of ID's in FY11

12:00 To set up financial sector legislative reforms panel

11:59 Allocated Rs 5,000 cr to Social Justice ministry

11:58 Allocated Rs 2,600 cr for Minority Affairs ministry

11:58 Launched women farmer fund scheme with Rs 100 cr

11:56 Propose to launch skill development programme for textile sector

11:56 Village & child development outlay up 50%

11:55 Allocation for renewable energy at Rs 1,000 cr

11:54 Unorganised sector social security fund at Rs 1,000 crore

11:54 Health insurance extended to NREGA beneficiaries

11:53 National Security Fund allocated Rs 1,000 cr

11:52 Micro finance & equity fund doubled to Rs 400 cr

11:51 Allocated Rs 2,400 cr for micro, SME's

11:50 Allocation for slum redevelopment increased to Rs 1,270 crore

11:50 To extend 1% interest subsidy scheme for affordable housing to Mar 2011

11:48 Allocation for urban development at Rs 3,500 crore

11:48 Indira Aawas Yojana allocation at Rs 10,000 cr

11:46 Rs 40,100 cr for NREGA

11:46 Rs 61,000 cr for rural infra development

11:45 Banking for all villages with population of 2,000

11:44 Allocation to Health Ministry at Rs 22,300 cr

11:43 FY11 education plan outlay at Rs 31,030 crore

11:43 Spending on social sector upped to Rs 1.37 lakh cr

11:42 Ready with draft Food Security Bill

11:41 One time grant of Rs 200 cr to Tamil Nadu for textile

11:41 Clean Ganga Mission allocated Rs 500 crore

11:40 Allocated Rs 200 cr to Goa to restore beaches

11:40 To set up 20,000 mw of solar power by 2022

11:40 Allocated Rs 500 cr to set up solar, small hydro power units

11:39 Micro power project in Ladakh at Rs 500 cr

11:38 To launch competitive bidding for captive coal mining

11:37 To set up coal regulatory authority

11:36 To loan Rs 16,752 cr to rail development projects

11:36 IIFCL to double re-finance to banks for infra

11:36 Road development allocation hiked to Rs 19,894 cr

11:35 To construct 20 km of national highway each day

11:34 Allocation for road transport raised by 13%

11:34 ECB's now available for food processing sector

11:33 To set up 5 more Mega Food park projects

11:32 To provide 2% loan subsidy to farmers

11:32 Interest rate subvention for farm loans hiked to 2%

11:32 FY11 bank farm loan target raised to Rs 3.75 lakh crore

11:31 PDS suffering from shortage of storage facilities

11:30 Rs 200 crore for climate resilient agri initiative

11:30 Propose Rs 300 cr for Rashtriya Krishi Vikas Yojana

11:29 Rs 400 crore to extend green revolution to Eastern India

11:28 Committed to SEZ plans to boost exports, employment

11:27 Extend 2% interest subvention on export credit for 1 year

11:27 Capital for banks to help meet CAR aim

11:26 Company's Bill to address regulation in corporate sector

11:26 RBI to give additional banking licenses

11:26 FY11 capital for PSU Banks at Rs 16,500 crore

11:25 RBI mulling banking license for pvt & NBFC players

11:25 Status paper on domestic debt/GDP ratio in 6 months: BMR

11:24 Working towards making FDI regime simple

11:24 $20.9 bn FDI inflows during Apr-Dec '09

11:24 Will reduce fertiliser subsidy

11:23 Divestment proceeds budgeted higher in FY11 vs FY10

11:23 NBS will lead to agri productivity

11:22 PSU divestment mop-up seen at Rs 25,000 cr in FY10

11:22 Actively engaged in finalizing structure of GST rollout

11:21 Finance panel has proposed withdrawal of stimulus

11:20 Since December, signals of food inflation spilling over

11:19 Have acted on recommendations of 13th Finance Commission

11:19 Need to better manage supply-demand mismatch

11:19 Process of building a simple tax system is near completion

11:19 Need to strengthen local macro-economic situation

11:17 Efforts on to lower inflation in the next 2 months

11:16 Need to review stimulus and get back to fiscal consolidation

11:16 High fuel prices added to inflationary pressures

11:16 Should bring down inflation in the next few months

11:15 10% growth mark is not too distant in future

11:14 Focus to improve food security and healthcare systems

11:13 Govt must enable enterprise

11:13 Focus of economic activity shifted to non-govt factors

11:12 Some sectors have helped improve economic condition

11:12 FY10 was a challenging year for the economy

11:11 Budget will also signal policy for future

11:11 Second challenge is to make development more inclusive

11:10 First challenge is to return to high GDP growth of 9%

11:10 Budget cannot be a mere statement of government account

11:09 Thrust for infrastructure in rural areas

11:08 GDP growth hitting double-digit remains 1st challenge

11:07 Confident now economy in far better position

11:07 First challenge is to quickly revert to high GDP growth

11:07 Short-term global outlook bleak during FY10 Budget

11:06 Southwest monsoon undermined kharif crop

11:06 Averted crisis, Indian economy far better situation

11:05 Business sentiment weak at the time of last Budget

11:03 Finance Minister presents Union Budget 2010

Monika Bachhawat (Chartered Accountant) (211 Points)
Replied 26 February 2010

Swaminathan Aiyar: Pranab's budget is not too harsh, not too easy | More an emphasis on expenditure side than the tax side

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CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 26 February 2010

Service Tax rates unchanged

v.durga rao (ARTICLED ASSISTANT) (38 Points)
Replied 26 February 2010

please tell me what is maximum limit upto which the interest on housing loan can be claimed according to budget 2010-11?

Vishnu Nair (Chartered Accountant) (935 Points)
Replied 26 February 2010

1249 hrs

Direct tax proposals to result in revenue loss of Rs 260 bn

1248 hrs

Rs 43,000 cr raised by partial rollbacks: Swaminathan SA Iyer

1246 hrs

Service tax rate retained at 10%, to bring more services under service tax net

1244 hrs

Import duty on silver raised to Rs 1500 per kg

1243 hrs

To raise excise duty from 8% to 10%

1239 hrs

Mobile accessories market to get tax breaks

1234 hrs

To levy clean energy cess on imported coal

1233 hrs

Rs 1 per litre excise on petrol, diesel

1229 hrs

To enhance duty on oil products to 10%

1228 hrs

Raised excise duty from 5% to 10%

1228 hrs

Custom duty on crude oil back to 5%

1227 hrs

Enhance tax audit limits for professionals to Rs 15 lakh

1226 hrs

To partially roll back central excise duty

1226 hrs

Excise duty on large cars, SUVs raised to 22%, up 2%

1218 hrs

Sops for real estate, housing projects extended by a year

1217 hrs

Surcharge on domestic cos reduced to 7.5% from 10%, MAT increased from 15% to 18%

1215 hrs

Income tax slabs revised

1212 hrs

Saral 2 form to be rolled out for simplification of tax filing in 2010-11

1209 hrs

Govt to provide subsidy in cash instead of bonds for fertiliser, oil

1208 hrs

To include subsidies in fiscal accounting

1206 hrs

Net market borrowing 2010-11 at Rs 345010 cr

1206 hrs

Revised fiscal deficit targets for 2009-10 at 6.9%

1205 hrs

5.5% fiscal deficit, rolling targets of fiscal defict at 4.8% in 2011-12 and 4.1% in 2012-13

1205 hrs

15% increase in plan expenditure and 6% in non-plan expenditure

1204 hrs

Advance tax receipts expected at Rs 746651 cr; Net tax revenue receipts at Rs 14118 cr

1202 hrs

Defence allocation raised to Rs 147344 cr, Rs 60000 cr allocated for defence expenditure

1159 hrs

UID authority given Rs 1900 cr

1159 hrs

Proposes to increase subvention to 5% in repayment of farmer loans

1158 hrs

Social sector spending at Rs 1.38 tn for FY11

1157 hrs

Rs 2600 cr allocated to minority ministry

1157 hrs

National Social Security fund allocation at Rs 1000 cr

1155 hrs

Extends 1% interest subsidy scheme for affordable housing to March 2011

1154 hrs

To create 50 cr skilled workers by 2022

1151 hrs

Rs 1200 cr for drought mitigation in Bundelkhand region

1148 hrs

Rs 100 cr for financial inclusion fund; Allocation for Bharat Nirman at Rs 48000 cr

CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 26 February 2010

For self occupied its 1.5 lacs only.... As nothing is declared new budget, it continues on 1.5 lacs

Mohd Javed Khan (CA FINAL) (622 Points)
Replied 26 February 2010

income tax rates slabs r changed......

upto rs 160000 no tax
rs1.6 lakh to 5 lakh 10%
rs 5 lakh to 8 lakh 20%
rs 8 lakh & above 30%

also amount under sec 80 cc increase by rs 20000

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CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 26 February 2010

No capital gains tax on conversion of a business entity into Limited Liability Partnership

Sourav Modi (Learner!) (306 Points)
Replied 26 February 2010

dhiraj is saying that there is a hike in custom duty on gold whereas Javed is saying just the opposite. which is the right one?

Vishnu Nair (Chartered Accountant) (935 Points)
Replied 26 February 2010

12:56 Service tax rate remains unchanged at 10%: Ernst & Young

12:56 Outright SACD exemption for certain prepackaged products: Ernst & Young

12:55 Indexation of precious metals cutoms duty: +ve for Gitanjali,Titan

12:55 Service tax unchanged +ve for FMCG

12:55 Customs duty on rhodium reduced to 2%: BMR

12:54 Tax reliefs for charitable orgs earning trade receipts: BMR

12:54 Assistance for medical devices +ve for Opto Circuits

12:53 Cut excise duty windfarm input +ve for Suzlon: Ernst & Young

12:52 Duty exemption on hand set extended : +ve for Spice mobiles

12:52 New corporate tax rate 33.21% against 33.99%: Ernst & Young

12:52 Monorail projects notified for project import benefits: Ernst & Young

12:51 Redn in duty for photovoltaic units +ve for Moserbaer: Ernst & Young

12:51 Customs on crude restored for -ve RIL, all refiners

12:50 Solar power rickshaws to enjoy duty concessions: Ernst & Young

12:49 Indirect tax concessions for alternate energy projects: Ernst & Young

12:49 Excise duty cut on wind farm units +ve for Suzlon

12:48 Exempt inputs for making RotorBlades from excise: +ve for Suzlon

12:47 Clarification on tax neutral transition to LLP's welcome: BMR

12:47 Corp Tax outgo to reduce by 0.77%: BMR

12:46 Clen energy cess on imported & dom coal; -ve for Tata Power, Adani

12:46 MAT outgo to increase by 2.94%: BMR

12:45 Full CENVAT credit on Cap Goods in 1st Year itself: Ernst & Young

12:45 Testing of agricultural seeds exempt from service tax: BMR

12:44 Agriculture seeds exempt from service tax: +ve for Advanta

12:44 Peak rate of customs duty remains unchanged at 10%: Ernst & Young

12:43 Customs duty exempted on input for refrigerated van mnfrs: Ernst & Young

12:43 Setting up of cold storages exempted from service tax: Ernst & Young

12:42 Simplified corp taxation for cos upto 60 lacs t/o: BMR

12:41 Presumptive taxation increased on small cos: BMR

12:41 Hike in CET for refined pdts negative for OMCs

12:43 Setting up of cold storages exempted from service tax: Ernst & Young

12:42 Simplified corp taxation for cos upto 60 lacs t/o: BMR

12:41 Presumptive taxation increased on small cos: BMR

12:41 Hike in CET for refined pdts negative for OMCs

12:40 Ad-valorem excise duty on MUVs increased: Ernst & Young

12:39 Increase in excise duty on non-tobacco products: BMR

12:39 Redn in personal tax rate saving of Rs.50k upto 8l Incom: Ernst & Young

12:38 Excise duty on Cig increased; quantum will impact ITC

12:37 Excise duty on tobacco -ve for ITC: Ernst & Young

12:37 No CG tax on conversion to LLP'S: BMR

12:36 Basic customs duty on crude petroleum restored to 5%: Ernst & Young

12:36 Customs duty of 5% on crude negative for OMCs

12:35 Excise on SUVs up to 22% from 20% - ve for M&M, Tamo

12:34 Excise duty on large cars increase -ve for Tata Motors, Ashok Ley: Ernst & Young

12:34 Peak excise duty increased; -ve for Auto, Steel, Cement Co

12:33 Stimulus package partially rolled back: Ernst & Young

12:33 Reduction in Personal Tax rate saving of Rs50,000 upto Rs 8 lakh income

12:32 Excise duty hiked to 10% expected rise

12:32 Roll back in central excise from 8% to 10%: Factored in

12:32 Peak excise duty rate increased from 8% to 10%: Ernst & Young

12:31 Direct tax revenue proposals to lead to Rs 26000 cr loss: BMR

12:31 Red of Corp Tax Surcharge to Red Corp Tax Rate By 1%: Ernst & Young

12:30 Rs 26000 cr revenue loss on account direct tax proposals

12:29 Low tax, high purchasing power volume boost for FMCG cos

12:29 Conversion of partnership to Llp encouraged: Ernst & Young

12:28 Int on TDS not deposited increased to 18% pa: Ernst & Young

12:27 Weighted Ded on R&d +ve for Tata Motors, Ashok Ley: Ernst & Young

12:26 Tax audit limit increased to 60 lakhs for business: Ernst & Young

12:26 Pharma cos impact neutral Mat vs Weighted Deduction: Ernst & Young

12:25 MAT 18% on booked profits not assets should be positive

12:24 Tax holiday for Hotel ind; +ve for Indian Hotels, EIH: Ernst & Young

12:23 RIL, FMCG cos impacted by MAT increase

12:22 Weighted deduction on R&D +ve for Pharma and Auto: Ernst & Young

12:21 Surcharge cut; +ve for India Inc

12:21 MAT increased to harm IT and infrastructure companies: Ernst & Young

12:21 Surcharge reduced to 7.5% from 10%: BMR

12:19 MAT increased to 18%; -ve for RIL, HUL, Bharti, Rcom

12:19 Increase MAT from 15% to18% on book profits: BMR

12:19 Infra bond tax deduction +ve for IDFC, PFC

12:19 Corporate surcharge reduced to 7.5% but MAT increased: Ernst & Young

12:18 Surcharge reduced from 10% to 7.5%: Ernst & Young

12:18 10% tax on annual income from Rs 1.6 lakh to 5 lakh: BMR

12:18 AddTax deduction of Rs 20,000 on inv in infra bonds

12:17 Tax slabs increased will enhance spending: Ernst & Young

12:17 Increase in take home for individuals enhance consumption: Ernst & Young

12:16 No tax on annual income upto Rs 1.6 lacs: BMR

12:16 Tax slabs rationalised for individuals: Ernst & Young

12:16 Scope of Settlement Commission for excise & customs expanded: Ernst & Young

12:15 New version of Saral ready for salaried employees: BMR

12:15 Settlement Commission to cover raid cases: BMR

12:14 Return filing procedure to be simplified: Ernst & Young

12:14 Simplification of tax compliance: Ernst & Young

12:13 Saral 2 form to be introduced in a simplified version: Ernst & Young

12:13 Increased computerization of central and state tax administration: Ernst & Young

12:12 Pilot projects for tax grievances extended to four cities: BMR

12:11 Automation to reduce physical interface with department: Ernst & Young

12:10 Technology driven tax administrative reforms: Ernst & Young

12:10 FY11 borrowing lower than est +vs for PSU banks

12:09 Subsidy delivery in cash to oil & fertiliser companies

12:08 Extending govt fert subsidy in cash: + ve for fert cos

12:08 Revised fiscal deficit for 2009-2010 at 6.9%

12:08 All subsidy in cash

12:07 Gross non- tax receipts at Rs 1,48,118cr: BMR

12:07 Deficit 4.3% for FY12

12:05 Gross tax receipts at Rs 7,46, 651cr: BMR

12:04 New technology platforms for new legislations positive for IT sector: Ernst & Young

12:03 Rs 60000cr defense capex :BEL, M&M, L&T, Nelco

12:02 UID scheme Budget Rs 1900 crore IT companies, Bartronics in fosus

12:02 Higher defence allocation +ve for L&T: BMR

12:01 Smart card extension positive for Glodyne Tech: Ernst & Young

12:00 Banking license for NBFCs, private players positive for IFCI, Reliance Capital

12:00 UID commitment to be met in 2010: + ve for Bartronics, TCS

11:59 RBI licenses to private players +ve for Reliance Capital: BMR

11:54 Smart Card extended to NREGA; focus Bartronics

11:50 Slum Free India at the earliest: +ve for HDIL (SRA)

11:50 Extension of interest subvention to March: Parsvanath, Sobha

11:49 Focus on slum redevelopment positive for real estate: Ernst & Young

11:49 Interest subvention for low cost housing: HDIL, Parsvanath

11:48 Increase allocation for urban development by more than 75%

11:47 Higher outlay for educations; +ve for Educomp, Edserv, Core Proj

11:47 Rs 61, 000 crore rural programmes positive for Hero Honda, PNB

11:46 Rs 66,100cr for rural devpt this year: BMR

11:43 Education outlay increased by Rs 3236: Educomp, Everonn

11:43 3675 cr grant on education to states : +ve for Educomp, Everonn

11:41 Rs 200 cr for Tirupur, TN Textile facility: BMR

11:40 National clean energy fund; +ve for Suzlon, JP Hydro

11:40 20000 MW solar power +ve for Monnet Ispat

11:38 Setting up of Coal Regulatory Authority positive for cement, steel companies

11:38 Increased refinancing by IIFCL;+ve for infra companies

11:37 Solar energy impetus Moser Baer in focus

11:37 Double allocation to power;+ve for NTPC, Rel Power, Adani Po

11:37 Competitive bidding process for captive mining blocks: BMR

11:37 Higher power allocation to benefit power & dist companies: Ernst & Young

11:36 13% higher road allocation;+ve for Punj, Gammon, Nagarjuna

11:35 Intro of new legislations administrative reforms is key: Ernst & Young

11:35 13% higher road allocation;+ve for IVRCL, HCC, L&T

11:34 Increased allocation for road Gammon, IRB, j kumar +ve

11:34 To raise allocation for road transport by 13%

11:33 Provided Rs 1,73,552 crore for infrastructure development

11:33 Easy access for funds to marine and cold storage facili: Ernst & Young

11:32 ECB's will be available for food processing sector

11:31 Addtional banking license IDFC and IFCI in consideration

11:31 Repayment Extension For FarmerTo June 2010: +ve Bob Pnb

11:30 SEZ's recorded 127% YoY export growth in last 3 qtrs: BMR

11:29 Rs 300cr for agriculture impetus Jain Irrigation, Advanta India

11:29 Recapitalisation of banks +ve Uco Bank, CBI

11:28 Interest subvention extended to March 11

11:28 Textiles, Gems and Jewellery benefit from Int Sub Extension

11:27 Recapitalization of banks positive for Syndicate Bank, Dena Bank

11:27 NBFC could be considered for banking licenses: IDFC

11:26 Banking sectors reforms to be introduced: Ernst & Young

11:24 RBI considering addl licenses to private players: BMR

11:23 FDI policies to be consolidated - positive step: Ernst & Young

11:23 Aims to make FDI policy userfriendly: BMR

11:21 Oil Ministry to take decision on Parikh Report

11:20 Deferment of GST negative for corporates in FY10-11: Ernst & Young

11:18 FM reaffirms commitment to GST; likely roll-out in April 2011: Ernst & Young

11:17 Direct tax code to be implemented from April 1, 2011: Ernst & Young

11:16 Budget has given indication that better targeting of subsidies will be the key

11:16 Budget has given indication that better targeting of subsidies will be the key objective

11:15 Focus on development of infrastructure in rural and urban areas likely

11:12 Budget realises the need to strengthen food security

11:11 State of the economy better

jatin vasant (student) (51 Points)
Replied 26 February 2010

Nifty up 100 pts

Sens*x surges over 350 pts on direct tax sops

BSE real estate index extends gains to 3% on sops to developers

12.30am: Markets responds positively, Sens*x up 300 pts

Banking stocks up, react to banking expansion plans

Markets up by 100 points

Fertilizer stocks up, react to reduction of subsidy

11.30am: BSE Sens*x, Nifty up by 0.5%

Markets react positively to Pranab speech

9am: BSE Sens*x at 16,296.59, 0.26%

9am: NSE index at 4,880.5

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Mohd Javed Khan (CA FINAL) (622 Points)
Replied 26 February 2010

tax audit limits increased to 60 lakhs for business

n 15 lakhs for professionals...

1) GST & DTC to be implemented by 1/4/2011
2) New return form .saral 2 to be introduced
3) Extra limit of 20K ,in 80 C for investment in infrastructure bonds
4) Surcharge on domestic companies reduced from 10% to 7.5%
5) MAT increased from 15% to 18%
6) Tax Audit limit raised to 60 L (15 L for professionals)
7) Exemption limit raised
Up to 1.6 L = NIL
1.6 L to 5 L = 10%
5L to 8 L= 20%
Above 8 L=30%

no change in service tax......

duty put on petrol & diesel