Highlights of Budget 2010
§ To waive excise duty on solar panels § Opposition walks out of Parliament over petrol price hike § Petrol prices to go up § Fresh services to be brought under service tax § Service tax to GDP ratio 1% § Service tax to result in net revenue gain of Rs 3000 cr § Customs duty on silver at Rs 1500/kg § Custom duty on gold to be reduced § Mobile phones to be cheaper § No capital gains tax on conversion of a business entity into Limited Liability Partnership § To encourage manufacture of accessories such as battery chargers and hands-free sets, the concessions will be extended the mobile phone sector § 5% customs duty on crude petroleum back § Peak customs duty unchanged at 10% § FM raises central excise duty on all non-petroleum products from 8 to 10 per cent § Revenue loss of Rs 26,000 crore on direct tax proposals § Stimulus-led excise duty rollback partially reversed § ...