Multiple choice

Directions: Choose the correct option for the given question.What is true for service tax as per proposals of Union Budget 2008-09?

  1. It has been retained at 12%

  2. It has been enhanced to 13%

  3. It has been reduced to 10%

  4. Four services are excluded from tax sphere
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Union Budget 2008-09 retained service tax at 12%. There was no increase to 13% nor reduction to 10%. The budget focused on stability in indirect tax rates during a period of economic uncertainty. Service tax was a major source of revenue for the government.

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