Union Government gives tax relief

Union Government gives tax relief

Union Government gives tax relief

The Union Government on Tuesday reduced by two percent rates of excise duty and service tax in a bid to give relief to the industry reeling under the impact of slowdown.

While the general excise duty has been reduced from 10 % to 8%, the rate of service tax cut is from 12 %to 10 %.
4% excise cut announced earlier in the stimulus package in December will continue beyond March 31, stand-in finance minister Pranab Mukherjee said while winding up the debate on the Interim Budget in the Lok Sabha today.


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