Budget 2014 Highlights - Business & Economy - General Economy - TIK Share

Budget 2014 Highlights


CA Pulkit Sharma

2014-02-18

Interim Budget 2014: Highlights

SERVICE TAX
1. Loading, Unloading, Storage and Warehousing of RICE has been exempted.
2. Blood banks exempted from Service Tax.

EXCISE
1. Capital Goods falling under Chapter 84 & 85 reduced from 12 to 10% upto 30.06.2014
2. Excise duty reduced on small cars, motor cycles & scooters from 12 to 8 % upto 30.06.2014
3. Excise Duty also reduced on SUV's and other Cars
3. Excise Duty on Mobiles reduced to 6% (with Cenvat) or 1% without Cenvat.

Enthusiasm to speak

2014-02-18

Excise duty is reduced on Motar vehicals, 3 wheelers, tractors, Vehicle chasis.

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Prem Chand Jangir

2014-02-19

-Pending Interest on Educaton Loans availed before March 2009 has been waived off but it seems to done just for taking Credit since Govt already assumes these loans can not be recovered.

-Also proposed to create 10 Cr Jobs in the next 10 years but this also seems to be impossible.

-One Rank One Pension Scheme for Defence sector has been approved which was long pending.

 

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Manish Agrawal

2014-02-19

Only Peddy has been expemted or rice storage also.

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CA Pulkit Sharma

2014-02-19

The wording says Rice, so i believe it includes Rice. Peddy is pure agricultural product, so tax on paddy.

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