Move seen as prelude to GST rollout; rules for Cenvat credit also likely to be simplified.
Millions of "input" tax credits are taken every day by manufactures and traders under the Cenvat Credit Rules for the purpose of paying and adjusting duty.
In a major relief to small companies, the government on Thursday relaxed Cenvat Credit Rules to exempt manufacturers paying excise duty of less than Rs 1 crore (Rs 10 million) from filing a declaration on the main inputs going into the finished goods
Meru Cabs, one of the first radio taxi services in the country, is contesting service tax notices sent to it since 2010 in the Bombay High Court.
Customs and excise duty rates have been amended mainly to promote Make in India.
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