Budget review - Custom, Excise and Service tax

[CS Swati Dodhi]

1. Increase in basic custom duty:

- Metallergical coke from 2.5 % to 5%.

- Tariff rate on iron and steel and articles of iron and steel increased from 10% to 15%.

- Tariff rate on commercial vehicle increased from 10 % to 40%.

2. Basic custom duty on digital still image video camera with certain specification reduced to nil.

3. Excise duty on rails for manufacture of railway or tram way track construction material exempted retrospectively from 17-03-2012 to 02-02-2014, if not CENVAT credit of duty paid on such rails is availed.

4. Service-tax to be levied on service provided by way of access to amusement facility, entertainment events or concerts, pageants, non recoganised sporting events etc.

5. Service-tax exemption:

- Services of pre-conditioning, pre-cooling, ripening etc. of fruits and vegetables.
- Life insurance service provided by way of Varishtha Pension Bima Yojana.
- All ambulance services provided to patients.
- Admission to museum, zoo, national park, wile life sanctuary and tiger reserve.
- Transport of goods for export by road from factory to land customs station.

6. Enabling provision made to exclude all services provided by the Government or local authority to a business entity from the negative list.

7. Service-tax exemption to construction, erection, commissioning or installation of original works pertaining to an airport or port withdrawn.

8. Transportation of agricultural produce to remain exempt from Service-tax.

9. Artificial heart exempt from basic custom duty of 5% and CVD.

10. Excise duty exemption for captively consumed intermediate compound coming into existance during the manufacture of agarbathi