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%.