Expressing dissatisfaction over the Union Budget that had proposed an increase in the service tax, Cocanada Chamber of Commerce Chairman Dantu Surya Rao said that the revision of the tax from 12 per cent to 14 per cent would lead to inflation.
Mentioning that the traders waited for service tax relief, he said: “While levying service tax, the UPA government had cited a negative list, exempting the certain services from the tax. Now, the NDA government has not even amended the negative list, which will lead to an increase in the prices of commodities.”
