New Delhi: Various services, including radio-cabs, are set to become costlier as finance minister Arun Jaitley on Thursday widened the service tax base to mop up an additional Rs 7,525 crore from the segment this fiscal. Service tax has been proposed on the service provided by radio-taxis to place them on par with rent-a-cab services.
“To broaden the tax base in Service Tax, it is necessary to prune the negative list to the extent possible. The negative list has been reviewed and service tax leviable currently, on sale of space or time for advertisements in broadcast media, is being extended to cover such sales on other segments like online and mobile advertising. Sale of space for advertisements in print media, however, would remain excluded from service tax,” Mr Jaitley said.
The price of branded or petrol was on Thursday cut by over Rs 5 per litre after Mr Jaitley slashed excise duty on the fuel. Central Excise duty on branded petrol was cut from Rs 7.50 per litre to Rs 2.35 per litre. The removal of excise duty would bring the two fuel at par. BPCL’s premium branded petrol, Speed, costs Rs 83.03 in Delhi while normal petrol is priced at Rs 73.55 a litre.
The differential excise duty led to huge difference in price of normal and branded fuel, resulting in sales of the premium version dropping to almost nil.
The removal of excise duty would bring the two fuel at par. BPCL?s premium branded petrol ? Speed ? costs Rs 83.03 in Delhi while normal petrol is priced at Rs 73.55 a litre.
