Indian Budget 2006-07 on Service Tax

Service Tax

• - Service tax is increased to 12% from 10%.
• - Services tax net to be increased which include ATM operations, maintenance and management, share transfers, registration, international, air travel excluding economy class, sponsorship of other sports events, auctioneering, ship management and travel on cruise.
• - April 1, 2010 is proposed for introducing Goods and Service Tax (GST).