The State of Jammu & Kashmir so far, exempted from the clutches of service tax, will soon have 14 services under the tax net. As per the reports, a flexible service tax law conducive to the State would be enacted, which will come into force within a year. Unlike the Centre, which levies service tax at 12.36%, in Jammu & Kashmir the tax would be introduced with a low rate of 8.5%....
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