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India issues Interim Budget for 2014-15

India issues Interim Budget for 2014-15

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Published by Yvonne Smith
India has today (February 17, 2014) issued an interim Budget for 2014-15. Being an interim Budget, there are no proposals seeking to amend direct tax provisions, nor are there any major policy announcements. Budget 2014-15, in detail, is expected to be presented by July 2014, reports reports Nair & Co.’s International Tax Team.
India has today (February 17, 2014) issued an interim Budget for 2014-15. Being an interim Budget, there are no proposals seeking to amend direct tax provisions, nor are there any major policy announcements. Budget 2014-15, in detail, is expected to be presented by July 2014, reports reports Nair & Co.’s International Tax Team.

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Published by: Yvonne Smith on Feb 21, 2014
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02/21/2014

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India issues Interim Budget
(Bristol, UK) - India has today (February 17, 2014) issued an interim Budget for 2014-15. Being an interim Budget, there are no proposals seeking to amend direct tax provisions, nor are there any major policy announcements. Budget 2014-15, in detail, is expected to be presented by July 2014, reports Nair
& Co.’s International Tax Team.
 The interim Budget mainly proposes to reduce the excise duty rate from 12% to 10% for certain capital goods and consumer durables, for the period up to June 30, 2014, along with special reductions of excise in the automobile industry. Further, it has also been proposed to restructure excise duties for all categories of mobile handsets- The rates will be 6% with CENVAT credit or 1% without CENVAT credit. Along with exemption of service tax for services provided by certain blood banks and services related to dealing with certain food grains, the customs duty structure has been proposed to be rationalized for non-edible grade industrial oils, its fractions, etc. For more information about 
 or to know more about our
 
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alerts from Nair & Co. Get the latest news releases and updates on international tax, HR, Finance, compliance and other legal news at 
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About Nair & Co.
 Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax and compliance services for the set up and management of your international operations. Our model of a single-point-of-contact, supported by internal teams of experienced advisors, helps clients expand

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