February 28, 2008
NTF. NO. 42/2007-ST, DT. 29/11/2007
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http://www.eximkey.com/contents/showpage1.asp?pageid=23509
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http://www.eximkey.com/contents/showpage1.asp?pageid=23509
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http://www.eximkey.com/contents/showpage1.asp?pageid=23390
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http://www.eximkey.com/contents/showpage1.asp?pageid=23326
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To see notification no 35/2007 click the link below
http://www.servicetax.gov.in/servtax_notfns_idx.htm
PAN must for all market transactions
Dredgers to be exempt from import duty
Duty on Drip Irrigation, Agricultural Sprinklers and Food processing machinery from 7.5% to 5%
Duty on pet foods down from 30 to 20%
Ad-valorem component on petrol and diesel down from 8% to 6%
Threshold of tax-free income hiked by Rs 10,000
Women assesses threshold hiked to Rs 1,45,000
5 year tax holiday for 2,3 and 4 star hotels for Commonwealth Games in NCR Region
Direct Taxes: Dividend Distribution Tax to go up to 15%
Fringe Benefit Tax to be extended to ESOPS
Additional 1% CESS on all taxes for secondary education
PAN must for all market transactions
Govt. to acquire RBI stake in SBI
Govt confident on managing inflation
Double allocation on education
11th plan to focus on faster growth rate
Govt committed to special panel set up for commodities mkt
Agriculture to be top on the agenda of UPA govt
New scholarship for 8th std students to arrest dropouts
School education allocation up
Farm credit growth satisfactory
Savings rate estimated at 32.4 pc
No forward contract in wheat, rice futures
Health spending to be hiked 22%
Allocation to health hiked by 21.9% to Rs 15291cr
Average inflation seen between 5.2%-5.4%
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