Service tax emption to tourism extended by one year

To tide over difficult conditions

Noting that the tourism industry had been adversely affected by recent events, Union Finance Minister Yashwant Sinha has extended the service tax exemption for the industry by one more year.

In December 2001, Sinha had announced exemption from service tax on the services provided by hotels, which was to expire on 31 March 2002.In the Union Budget 2002-03, he has proposed to extend this exemption for one more year up to 31 March 2003.

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