Is Service Tax applicable to you in the new regime applicable from 1-Jul-2012?

July 5, 2012
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[By Shaleen Shah (Partner), VNCA]

Budget 2012 passed by the Parliament on 8-May-2012 and assented by the President on 28-May-2012 and 43 Notifications issued thereafter till now has completely changed the way services will be taxed w.e.f. 1-Jul-2012. Taxation will be based on what is popularly known as “Negative List of Services

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