From my everyday experience and observation I think that the “Indian Society” was contributed with huge benefits only through the support of her member’s events and belief. In this Blog, we are discussing the valuable, priceless and irreplaceable contribution of such a member along with the historical backdrop of India. Anonymous

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Tuesday, February 24, 2009

Central Board of Excise and Customs (CBEC) makes Indian Film Industry happy

Indian billion-plus film industry cheers due to the announcement of Central Board of Excise and Customs (CBEC) that commonly-used film screening arrangements in the country are not a 'taxable service'. CBSE said that theatre Owners should only pay service tax for getting fixed rents for leasing their premises to Film distributors. “Screening of movies in a theatre is not a specified taxable service. However, the wide scope of business support service was resulting in interpretational disputes. The present clarification puts to rest all the disputes and is a welcome one for the entertainment industry,” said by Bipin Sapra who is the associate director of Ernst & Young.
You can find details regarding this from the official CBEC website

Posted by Technologist at 5:46 PM 0 comments
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Excise Duty Lowered

India Government cuts excise duty and service tax to 2% in order to protect the bad impact of Global financial Crises. Government announced that they reduced service tax to 10% from 12% for all service industry. Excise duty is lowered to 8% from 10% and it is very helpful to the Indian cement makers. In Indian Stock marketing, Cement firms up on excise duty cut. It is a good news to see Indian Sensex bounces back on short-covering due to this excise duty cut.
Finance minister Pranab Mukherjee announced this decision to lowering excise duty and tax payable to service industry in response to the debate on the 2009/10 union budget. But exact picture of the status of Indian economy will known only after election. May be this UPA governments decision will be beneficial to Indian economy.

Posted by Technologist at 5:24 PM 0 comments
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