Friday, April 15, 2011

NO MISERY, 5% SERVICE TAX ON HEALTHCARE GOES

The Government rolled back the controversial 5% service tax on high end hospitals and certain diagnostic services:

  • Concessional tax of 15% on dividends for firms from foreign arms to apply where the former holds more than 26%, as against 50%.
  • Employer's share in NPS to be tax exempt.
  • MAT rules for SEZ tightened further.

Garment makers abatement available for levy of excise duty on retail price of branded garments
and textile made-ups has been raised from 40% to 55%.

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