Financial Daily from THE HINDU group of publications
Thursday, Apr 20, 2006
Financial Daily from THE HINDU group of publications Thursday, Apr 20, 2006 |
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Government
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Policy Presidential nod for Finance Act Our Bureau
New Delhi , April 19 The President, Mr A.P.J. Abdul Kalam, has given his assent to the Finance Act 2006 on April 18. Consequent to the Presidential assent, the various changes made in the Budget as regards service tax would come into effect from this date. Accordingly, service tax on all taxable services stands increased from 10 per cent to 12 per cent from April 18. In addition to the 12 per cent, an education cess at the rate of two per cent of 12 per cent i.e., 0.24 per cent, would also be leviable.
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