Interim Budget highlights

·         No change in direct taxes

·         Excise cut on capital goods cut from 12% to 10%

·         Excise duty cut on small cars reduced from 12% to 8%

·         Excise duty for SUVs cut from 30% to 24%

·         Excise duty for large and mid-segment cars cut to 20%

·         Excise duty on mobile handset will be 6 %with CENVAT credit 0r 1% without CENVAT Credit

·         customs duty structure on non-edible grade industrial oils and its fractions, fatty acids and fatty alcohols at         7.5 percent.

·         To encourage domestic production of specified road construction machinery, withdrawal of the exemption             from CVD on similar imported machinery.

·         loading, unloading, packing, storage and warehousing of rice exempt from service tax.

·         services provided by cord blood banks are also healthcare services and be exempt from service tax.