Chennai: Bringing construction and installation of airports and ports under service tax in the Budget 2015-16 will have a ‘nasty effect’ on the infrastructure sector, said K Vaitheeswaran, Advocate and Tax Consultant.
“Cost of new construction projects will increase due to this. It is a super tax on ports and airports. From 2004 there was never a tax on infrastructure for ports and airports,” he said analysing Budget 2015-16, organised by the Madras Chamber of Commerce and Industry.
Construction and installation provided to government are also taxable. The changes take effect on April 1, 2015.
03/03/15 Business Line
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“Cost of new construction projects will increase due to this. It is a super tax on ports and airports. From 2004 there was never a tax on infrastructure for ports and airports,” he said analysing Budget 2015-16, organised by the Madras Chamber of Commerce and Industry.
Construction and installation provided to government are also taxable. The changes take effect on April 1, 2015.
03/03/15 Business Line
