« Top Headlines » Open DEMAT Account in 24 hrs  Income Tax Slabs FY 2023-24 & AY 2024-25 (New & Old Regime Tax Rates)  How can Form 15G & Form 15H save TDS on interest income?  How are e-filing and e-payment of taxes different? Know details here  Income Tax return (ITR) filing 2024: What is Form 16, when is issue date and why is it crucial? Explained  Step-by-Step Guide To File Income Tax Return FY 2023-24  Income-tax filing: Should you file your returns in April or wait until July 31?  ITR Filing: 6 Ways to Get Exemption on Income Tax  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues «  Widen tax base to up revenue: ICAI... For a less taxing regime for venture funds... » Budget 2008: Government plans to levy service tax on amusement parks December, 28th 2007 Your trip to amusement parks could cost you more from next year. The government is examining a proposal to levy service tax on amusement parks and coin-operated amusement machines in the Budget 2008-09. This was among the 44 new services which were offered to states as a part of a compensation package to phase out of central sales tax. The empowered committee of state finance ministers has recommended imposition of service tax on three out of the 44 new services, including healthcare, education and amusement parks and coin-operated amusement machines. Since it may be politically difficult to impose service tax on education and healthcare services, the government is looking at amusement park service on which a levy of 12%(plus cess) may not be seen as an anti-people move, a source said. Since films are already charged with entertainment tax, which is quite high in some states, a 12.36% service tax on amusement parks or machines would not be considered very drastic. Moreover, since small service provider with an annual turnover of up to Rs 8 lakh are exempt from service tax, small service provider offering these services would not get impacted. The state governments had given their recommendation in favour of these services in June this year. The implementation was, however, left to be carried out as a part of the budget exercise. The Centre will transfer service tax collection from 33 already taxed services to the state governments as a part of the compensation package in the Budget 08-09. Empowered committee chairman Asim Das Gupta had said the state governments were not in favour of imposition of service tax on services like healthcare and education, which impacted the common man.