‘Service tax, excise duty may change’

Finance Minister P. Chidambaram addressing the media, in New Delhi on Monday. Photo: V. Sudershan

Union Finance Minister P. Chidambaram said here on Monday that he could propose changes to the rates for service tax and excise duties in the interim budget, which will be tabled in Parliament on February 17.

A Vote-on-Account allows a government to seek Parliament’s approval for withdrawals from the Consolidated Fund of India to pay for expenditures in the run-up to the general election.

He said he would prefer a debate on it, but ruled out the possibility of key reforms legislation getting passed. The pending Bills that Mr. Chidambaram said now seem unlikely to be taken up are the Direct Tax Code, the Constitutional Amendment Bill for the Goods and Services Tax, and the Insurance Bill.