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Budget 2014: Service tax extended to sale of ad space on online & mobile

11-July-2014
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Budget 2014: Service tax extended to sale of ad space on online & mobile

Finance Minister Arun Jaitley has just finished presenting his maiden Budget speech and there have been some important announcements for the media & entertainment, advertising as well as the digital sector.

·       Service tax has been extended to selling of space or time slots for advertisements on online and mobile platforms

·       Sale of advertisement space in print media is excluded from service tax

·       New 24x7 television channel, Arun Prabha, for the North East to be launched

·       A Rs 10,000-crore start-up fund to be set up for new businesses

·       Kisan Television to be set up for the benefit of farmers, which will give real time information on advanced agriculture system

·       Rs 100 crore has been allocated to spur growth of community radio. 600 new community radio stations slated to be set up across the country

·       Manufacturing units will be allowed to sell their products through retail and e-commerce. The move will give a boost to e-commerce in India

·       Rs 500 crore proposed for digital India programme for broadband connectivity at village level and transparent governance

·       National Rural Internet and Technology Mission proposed; Rs 500 crore set aside

·       Film and Television Institute of India, Pune and Satyajit Ray Institute, Kolkata to be accorded status of institutes of national importance

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