Specials

Budget 2016: Relief to classical & folk music performers with increase in exemption limit in service tax

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NEW DELHI: In an attempt to promote classical and folk forms of music, the government has announced some relaxation in service tax.

The exemption limit on services provided by a performing artist in certain folk or classical art forms of music, dance or theatre, has been enhanced to Rs.1.5 lakh per event with effect from 1 April.

Thus, those paying up to 14 per cent for such performances will not have to pay any service tax.

Meanwhile, at a time when the government is stressing on green technologies, the Basic customs duty on wood in chips or particles for manufacture of paper, paperboard and news print has been reduced from five per cent.

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