TOP HIGHLIGHTS OF BUDGET 2010

1. More services to be brought under tax net
2. GST to be implemented from 2011
3. Exemption of  the testing and certification of agricultural seeds from service tax.
4.   The transportation by road of cereals, and pulses to be exempted from service tax.
5. 
   
   Transportation by rail to remain exempt.
6. Process of refund of accumulated credit to exporters of services, especially in the
   
   area of Information Technology and Business Process Outsourcing, made easy by
   making necessary changes in the definition of export of services and procedures
7.   Online News agencies to attract ST
8.   Accredited news agencies exempted

BUDGET UPDATES 2010

Mr Pranab Mukherjee said that revenue on direct tax proposals is put at Rs 20,000 crore, Indirect Tax proposals to result in Rs 46,000 crore.

No roll back in service tax which remains at 10%. And Service Taxes would rake in Rs 3,000 crore.

BUDGET UPDATES 2010

1. Online news agencies to attract service tax

BUDGET UPDATES 2010

1. Changes in definition of export of services in IT and BPOs. 
2.  More services to be brought under tax net
3. No taxes on transport of pulses and cereals: Pranab 
4. Service Tax rates unchanged
5. Account auditing for all income above Rs 15 lacs

BUDGET UPDATES 2010

Rate of tax on Services retained at 10%