Thursday, June 04, 2015

#INDIA: Gov't Rolls Out New Services Tax, Preparing For New Goods & Services Tax In 2016

[world politics news]

Indian consumers are paying more in taxes as of June 1 after a new, 14% tax on services went into effect. Finance Minister Arun Jaitley says the tax is a transition to a a Goods and Services Tax which he wants to roll out next April, which will take its place. Travel, banking, insurance, advertising, credit cards and tour operators are among those fields affected by the tax.

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